Ashok Leyland Bags Order For 1750 Buses From Tamil Nadu STU

Hinduja Group's commercial vehicle arm, Ashok Leyland has bagged the order for 1750 buses from the Tamil Nadu State Transport Undertaking (STU). The company says that the new order comes closely on the back of several orders received from various STUs recently, and also at a time when the commercial vehicle segment has been gravely affected by the overall slowdown in the auto sector.
 
Speaking about the order, Anuj Kathuria, COO, Ashok Leyland, said, "We are very happy to receive the confirmation of this order from TN STU. Our ability to bring value, combined with our superior technology and innovation will help us maintain our leadership position in buses in India."

Adding further, Sanjay Saraswat, President - MHCV, Ashok Leyland, said, "With this order, our order book for State Transport Undertakings has enhanced significantly. This is a testament to the reliability, durability and robustness of our buses. The cost of ownership and the product experience which we can deliver is the best in the industry."

Ashok Leyland is India's largest bus manufacturer and the fourth largest in the world. The manufacturer recently entered into a partnership with ICICI Bank as a financial partner for customers across India with the focus on semi-urban and rural geographies. The buses and trucks maker has also signed a Memorandum of Understanding (MoU) with Axis Bank to offer financial services. Much like the industry, the CV maker is anticipating a positive demand going into the fourth quarter of the financial year with a lot of pre-buying expected around this period. The company also showcased its BS6 range of trucks and buses earlier this month to be built on the new modular platform. The CV maker will roll out the new range from January next year.