Press Release | April, 2020

VE Commercial Vehicles sells 1499 units in March 2020

VE Commercial Vehicles Ltd. (A Volvo Group and Eicher Motors joint venture) recorded sales of 1499 units in March 2020 (YTD 48721 units) as compared to 8676 units in March 2019 (LYTD 72969), recording decline of 82.7%(YTD decline 33.2%). This includes 1476 units of Eicher brand and 23 units of Volvo brand

Following are the key highlights for March 2020:

  • Eicher branded trucks & buses have recorded sales of 1476 units in March 2020 (YTD 47614 units), as compared to 8545 units in March 2019 (LYTD 71743 units), representing a decline of 82.7% (YTD decline of 33.6%).
  • In the domestic CV market, Eicher branded trucks & buses have recorded sales of 1409 units in March 2020 (YTD 43036 units) as compared to 7329 units in March 2019 (LYTD 61733), representing a decline of 80.8 % (YTD decline of 30.3%).
  • On the Exports front, Eicher branded trucks & buses have recorded sales of 67 units in March 2020 (YTD 4568 units) as compared to 1216 units in March 2019 (LYTD 10010 units), representing a decline of 94.5% (YTD decline of 54.4%).
  • Volvo Trucks has recorded sales of 23 units in March 2020 (YTD 1107 units) as compared to 131 units in March 2019 (LYTD 1226 units), representing a decline of 82.4% (YTD decline of 9.7%).

Disclaimer:

All statements included or incorporated by reference in this media release, other than statements or characterizations of historical fact, are forward looking statements. These forward-looking statements are based on our current expectations, estimates and projections about our industry, management's beliefs and certain assumptions made by us. Although VE Commercial Vehicles believes that the expectations reflected in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. Any forward-looking statement speaks only as of the date on which such statement was made, and VE Commercial Vehicles undertakes no obligation to Update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. No assurance can be given that actual results, performance or achievement expressed in, or implied by, forward-looking statements within this disclosure will occur, or if they do, that any benefits can be derived from them.

About VE Commercial Vehicles Limited (VECV):

VE Commercial Vehicles Limited (VECV) is a joint venture between the Volvo Group and Eicher Motors Limited. In operation since July 2008, the company includes the complete range of Eicher branded trucks and buses, exclusive distribution of Volvo Trucks in India, engine manufacturing and exports for Volvo Group, nonautomotive engines and Eicher component business. A multi-brand, multi-division company, backed by innovative products & services, VECV today, is recognised as an industry leader for modernizing commercial transportation in India and developing world.

For more information please visit our website:
www.vecv.in www.eichertrucksandbuses.com
For further information, please contact:
Disha Sharma
Corporate Communications, VECV
Laveena Vohra
Archetype