Press Release | February, 2020

VE Commercial Vehicles sells 5544 units in January 2020

VE Commercial Vehicles Ltd. (A Volvo Group and Eicher Motors joint venture) recorded sales of 5544 units in January 2020 (YTD 42636 units) as compared to 5906 units in January 2019 (LYTD 57865), recording decline of 6.1%(YTD decline 26.3%). This includes 5388 units of Eicher brand and 156 units of Volvo brand.

Following are the key highlights for January 2020:

  • Eicher branded trucks & buses have recorded sales of 5388 units in January 2020 (YTD 41699 units), as compared to 5808 units in January 2019 (LYTD 56930 units), representing a decline of 7.2% (YTD decline of 26.8%).
  • In the domestic CV market, Eicher branded trucks & buses have recorded sales of 4871 units in January 2020 (YTD 37762 units) as compared to 5177 units in January 2019 (LYTD 49067), representing a decline of 5.9 % (YTD decline of 23%).
  • On the Exports front, Eicher branded trucks & buses have recorded sales of 517 units in January 2020 (YTD 3937 units) as compared to 631 units in January 2019 (LYTD 7863 units), representing a decline of 18.1% (YTD decline of 49.9%).
  • Volvo Trucks has recorded sales of 156 units in January 2020 (YTD 937 units) as compared to 98 units in January 2019 (LYTD 935 units), representing a growth of 59.2% (YTD growth of 0.2%).

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