December Auto Sales: Ashok Leyland shares rise as Dec 2024 sales beat estimates

Shares of Ashok Leyland Ltd., India's second largest commercial vehicle after Tata Motors maker by sales, gained as much as 2% on Thursday (January 2). The uptick in Ashok Leyland share price came after the company reported its December 2024 sales data.

Ashok Leyland's December sales were better than estimates. The company's total sales jumped 5% and medium and heavy commercial vehicles (M&HCVs) sales rose 8% year-on-year. M&HCV growth is led by the truck segment.

Total sales stood at 16,957 units, compared to 16,154 units in the same period last year. According to a CNBC-TV18 poll, Ashok Leyland's sales figure stood at 16,600 units.

M&HCV sales came in at 11,474 units as against 10,630 units last year, according to an exchange filing.

Light commercial vehicle (LCV) sales declined 1% year-on-year to 5,483 units as against 5,524 units.

Meanwhile, truck sales rose 11% and bus sales fell 3% year-on-year.

Ashok Leyland on December 13 last year announced that it will increase the price of its entire commercial vehicles range by up to 3%, effective from January 2025.

The automaker had said the extent of price increase will vary depending on the model and variant. "Inflation and higher commodity prices have necessitated this price increase. This move will help mitigate a part of the input cost impact."

Ashok Leyland shares were trading 1.52% higher on Thursday at ₹226.21 apiece. The stock has risen 25% in the last one year.