Ashok Leyland, India’s second-largest heavy commercial vehicle manufacturer, suffered its first loss in more than a decade in the first quarter of fiscal 2013-14 (April-June 2013-14), and since then the earnings have remained in the red. Sales for the company in the first three quarters (April-December 2013-14) fell by 23%, at 56,410 units, prompting it to slash production by 26%.
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