Commercial vehicle maker Ashok Leyland reported a fall in volume sales in August, the second straight month, resulting in the share price dropping almost 4 percent on Thursday on the Bombay Stock Exchange (BSE).
The Ashok Leyland stock fell to Rs. 84.55, a fall of 3.59 percent from its Wednesday close of Rs. 87.70, but recovered later and was trading at Rs. 85.40 at around 2.02 p.m.
In August 2016, the Chennai-based automobile company sold 10,897 units, 6 percent less than 11,544 vehicles sold in the corresponding month last year. Its July 2016 sales stood at 10,492 units, a fall of 5 percent from 11,054 vehicles sold in July 2015.
In June 2016, volume sales of the company had grown 7 percent to 11,108 units.
For the four-month period ended August 2016, Ashok Leyland reported volume sales of 52,554 units, up 4 percent from 50,752 vehicles sold in the corresponding period last year.
Eicher Motors sold 4,191 heavy vehicles in August 2016 as against 3,711 units sold in August 2015. The company manufactures and sells commercial vehicles under its joint venture with Volvo, called VE Commercial Vehicles Ltd.
Tata Motors, the biggest commercial vehicle maker in the country, is yet to report its August sales data.
