AL has witnessed a steep erosion in market share over the last two years led by: a) Covid-induced adverse impact on bus sales, b) lack of CNG models in ICV portfolio, c) portfolio gap in high power M&HCV segment and d) higher decline in southern region (AL has highest market share) sales v/s other regions. ALs' domestic M&HCV market share recovered ~3.6pp/4.3pp QoQ to 26.1%/30.4% in 3QFY22/4QFY22. This is further expected to improve driven by recovery in bus segment, plugging the product gaps (CNG model launch in ICV portfolio in Feb-22 and high power model launch in M&HCV segment in Dec21) and revival in the Southern region....