Medium and heavy commercial vehicle (M&HCV) sales, which contributed 65 percent of total sales during the month, plunged 47 percent to 7,754 units.
Ashok Leyland, the country's second largest commercial vehicle maker, sold 11,850 units in January 2020 which came in a tad below analyst expectations.
Sales fell sharply by 40 percent compared to 19,741 units sold in the same month last year due to subdued demand conditions despite heavy discounts. Japanese brokerage firm Nomura had expected sales at 11,900 units for the month.
"Total domestic sales dipped 41.5 percent to 10,850 units YoY in January 2020, against 18,533 units in January 2019," the company said in its BSE filing.
Medium and heavy commercial vehicle (M&HCV) sales, which contributed 65 percent of total sales during the month, plunged 47 percent to 7,754 units, while light commercial vehicle sales declined 19 percent to 4,096 units.
