Indian truck manufacturer Ashok Leyland is planning on increasing its presence in the African and Latin American markets.
Currently exports account for only 12% of total sales for the Chennai-based company, but it is planning on increasing that number to 25% over the next three years.
In an interview, CFO K. Sridharan said the company its base in the UAE will be the hub of its operation to crack the African market.
Ashok Leyland’s bus and truck factory in Ras Al Khaimah is already helping it to serve the Middle East and South Africa, but will now also be used as a staging point for sales across the continent. The company will set up sales companies for Kenya and Nigeria by June.
Sridharan also suggested that the RAK facility will become a blueprint for the company in its assault of the South American market, too. “We need to figure something similar for Latin America,” he said.
Ashok Leyland is hoping its recently-launched U-Truck range will drive sales in the Middle East, African and Latin American markets.
“After the acquisition of Optare Plc, we realised we can offer high-end vehicles at a cost-effective price for markets like the Middle East, from where we expect incremental volumes,” said Sridharan.
