Automotive World forecasts a cyclical downturn for Ashok Leyland, predicting two years of production decline in the Indian medium-haul segment. After achieving a record production of 220,600 units in 2025/26, marking a 12.6% increase, output is expected to rise modestly by 0.8% to 222,300 units in 2026/27. However, the firm anticipates an 11-12% drop in medium-haul commercial vehicle production in 2027/28, potentially hitting a low of 91,200 units the following year.
The initial boost from India’s GST cuts in October 2025 is waning, and indicators of freight demand are declining. While bus production may see a temporary increase, supported by state electrification tenders and age limits on government buses, light commercial vehicle output is expected to remain stable due to new models. Recovery is projected for 2029/30, with a potential new high of 242,400 units by 2030/31. For more insights, you can check Automotive World’s latest OEM outlook on Ashok Leyland.
