Auto Sales: Ashok Leyland Posts Record Sales In FY24

Ashok Leyland recorded one of its best years in sales, earning ₹38,367 crore in the financial year 2024 (FY24). It registered a year-on-year growth of six per cent compared to the same period last year. The brand’s operating profit before taxes (OPBT) stood at ₹3,886 crore, a YoY growth of 92 per cent. 

In the fourth quarter of FY24, Ashok Leyland had earnings before interest, taxes, depreciation and amortization (EBITDA) of ₹1,592 crores. During the same period last year, Ashok Leyland had an EBITDA of ₹1,276 crore. The brand’s OPBT stood for Q4 FY24 at ₹1,471 crore, while it earned an OPBT of ₹1,086 crore during the same period last year. 

Ashok Leyland sold 1,94,553 units in FY24 and has now become the top player in the bus segment, gaining a market share of 5.8%. It claims that its subsidiaries, Switch Mobility and Ohm Mobility, helped it gain traction in the bus segment. 

Furthermore, Ashok Leyland now holds the second spot in the light commercial vehicle segment in the 2.5-3 tonne category. Exports for Ashok Leyland also grew by five per cent despite what it claims were challenging conditions in the target market. 

Dheeraj Hinduja, Chairman, Ashok Leyland, said, “What makes this achievement significant is that it is coming in a year when we are celebrating our 75th anniversary. We continue to be optimistic about our industry prospects in the short to medium term backed by anticipated robust growth in the Indian economy. We are confident that we will continue to maintain sustainable and profitable growth year after year through our unwavering pursuit of delivering differentiated products and providing best-in-class customer satisfaction.”