The marketplace will aid customers in exchanging used vehicles and upgrading them to new Ashok Leyland trucks and buses, the Hinduja Group company said.

By leveraging this digital platform, Ashok Leyland hopes to increase transparency in the otherwise disorganized used vehicle ecosystem.

Shenu Agarwal, MD & CEO, Ashok Leyland, said, “The Used Commercial Vehicle industry is ripe for disruption.

Leveraging our digital platforms, there are many opportunities for us to provide customer centric solutions. This Used Vehicle e-marketplace solution marks a significant milestone in our digital transformation journey, and this will help us add significant value in the customer life cycle.”

Sanjeev Kumar, president – MHCV, Ashok Leyland, said, “The Used Vehicle business is a key focus area for us as it enables our customers to liquidate their vehicles with better resale value.”

Ashok Leyland is engaged in manufacture and sale of a wide range of commercial vehicles. The company also manufactures engines for industrial and marine applications, forgings and castings.

The company reported net profit of Rs 361.34 crore in Q3 FY23 compared with net loss of Rs 5.76 crore in Q3 FY22. Net sales jumped 63.3% to Rs 8,984.95 crore in Q3 FY23 as against Rs 5,503.64 crore in Q3 FY22.

The scrip advanced 0.73% to currently trade at Rs 138.50 on the BSE.