VE Commercial Vehicles sells 5042 units in December 2019
VE Commercial Vehicles Ltd. (A Volvo Group and Eicher Motors joint venture) recorded sales 5042 units in December 2019 (YTD 37092 units) as compared to 6236 units in December 2018 (LYTD 51959), recording decline of 19.1%(YTD decline 28.6%). This includes 4910 units of Eicher brand and 132 units of Volvo brand.
Following are the key highlights for December 2019:
- Eicher branded trucks & buses have recorded sales of 4910 units in December 2019 (YTD 36311 units), as compared to 6113 units in December 2018 (LYTD 51122 units), representing a decline of 19.7% (YTD decline of 29%).
- In the domestic CV market, Eicher branded trucks & buses have recorded sales of 4410 units in December 2019 (YTD 32891 units) as compared to 5112 units in December 2018 (LYTD 43890), representing a decline of 13.7 % (YTD decline of 25.1%)
- On the Exports front, Eicher branded trucks & buses have recorded sales of 500 units in December 2019 (YTD 3420 units) as compared to 1001 units in December 2018 (LYTD 7232 units), representing a decline of 50% (YTD decline of 52.7%).
- Volvo Trucks has recorded sales of 132 units in December 2019 (YTD 781 units) as compared to 123 units in December 2018 (LYTD 837 units), representing a growth of 7.3% (YTD decline of 6.7%).
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.
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.