Press Release | March, 2020

VE Commercial Vehicles sells 4586 units in February 2020

VE Commercial Vehicles Ltd. (A Volvo Group and Eicher Motors joint venture) recorded sales of 4586 units in February 2020 (YTD 47222 units) as compared to 6428 units in February 2019 (LYTD 64293), recording decline of 28.7% (YTD decline 26.6%). This includes 4439 units of Eicher brand and 147 units of Volvo brand.

Following are the key highlights for February 2020:

  • Eicher branded trucks & buses have recorded sales of 4439 units in February 2020 (YTD 46138 units), as compared to 6268 units in February 2019 (LYTD 63198 units), representing a decline of 29.2% (YTD decline of 27%).
  • In the domestic CV market, Eicher branded trucks & buses have recorded sales of 3875 units in February 2020 (YTD 41637 units) as compared to 5337 units in February 2019 (LYTD 54404), representing a decline of 27.4 % (YTD decline of 23.5%).
  • On the Exports front, Eicher branded trucks & buses have recorded sales of 564 units in February 2020 (YTD 4501 units) as compared to 931 units in February 2019 (LYTD 8794 units), representing a decline of 39.4% (YTD decline of 48.8%).
  • Volvo Trucks has recorded sales of 147 units in February 2020 (YTD 1084 units) as compared to 160 units in February 2019 (LYTD 1095 units), representing a decline of 8.1% (YTD decline of 1.0%).

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