Press Release | December, 2020

VE Commercial Vehicles sells 3710 units in November 2020

VE Commercial Vehicles Ltd. (A Volvo Group and Eicher Motors joint venture) recorded sales of 3710 units in November 2020 (YTD 18206 units) as compared to 3594 units in November 2019 (LYTD 32050), recording growth of 3.2% (YTD decline 43.2%). This includes 3561 units of Eicher brand and 149 units of Volvo brand.

Following are the key highlights for November 2020:

  • Eicher branded trucks & buses have recorded sales of 3561 units in November 2020 (YTD 17777 units), as compared to 3450 units in November 2019 (LYTD 31401 units), representing a growth of 3.2 (YTD decline of 43.4%).
  • In the domestic CV market, Eicher branded trucks & buses have recorded sales of 3088 units in November 2020 (YTD 15251 units) as compared to 2948 units in November 2019 (LYTD 28481), representing a growth of 4.7% (YTD decline of 46.5%).
  • On the Exports front, Eicher branded trucks & buses have recorded sales of 473 units in November 2020 (YTD 2526 units) as compared to 502 units in November 2019 (LYTD 2920 units), representing a decline of 5.8% (YTD decline of 13.5%).
  • Volvo Trucks and Volvo Buses have recorded sales of 149 units in November 2020 (YTD 429 units) as compared to 144 units in November 2019 (LYTD 649 units), representing a growth of 3.5% (YTD decline of 33.9%)

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