NEW DELHI: After losses in the past three quarters, Hindujas-run Ashok Leyland feels the "worst appears to be over" and it may achieve break-even in the current quarter. Dheeraj Hinduja, chairman of Ashok Leyland, told TOI that the company has been witnessing a minor revival in demand which may help turn the tide
The sentiments appear to be changing... a lot of fleet operators who had deferred purchases are now coming back to the market," Hinduja told TOI here. "December sales were better than November, and January sales were better than December. If the positive indications continue, we are hopeful of a break-even.
The economic slump and a series of negative factors, including slow progress in infrastructure projects and rising diesel prices, saw sales of commercial vehicles crash. Sales in the medium- and heavy-commercial vehicle segment have been negative (year-on-year) for the last 22 months at a stretch (till December 2013) and indications of an immediate turnaround are missing.