Press Release | February, 2021

VE Commercial Vehicles sells 5673 units in January 2021

VE Commercial Vehicles Ltd. (A Volvo Group and Eicher Motors joint venture) recorded sales of 5673 units in January 2021 (YTD 28773 units) as compared to 5544 units in January 2020 (LYTD 42630), recording growth of 2.3% (YTD decline 32.5%). This includes 5519 units of Eicher brand and 154 units of Volvo brand.

Following are the key highlights for January 2021:

  • Eicher branded trucks & buses have recorded sales of 5519 units in January 2021 (YTD 27982 units), as compared to 5388 units in January 2020 (LYTD 41693 units), representing a growth of 2.4% (YTD decline of 32.9%).
  • In the domestic CV market, Eicher branded trucks & buses have recorded sales of 4964 units in January 2021 (YTD 24283 units) as compared to 4871 units in January 2020 (LYTD 37756), representing a growth of 1.9% (YTD decline of 35.7%).
  • On the Exports front, Eicher branded trucks & buses have recorded sales of 555 units in January 2021 (YTD 3699 units) as compared to 517 units in January 2020 (LYTD 3937 units), representing a growth of 7.4% (YTD decline of 6.0%).
  • Volvo Trucks and Volvo Buses have recorded sales of 154 units in January 2021 (YTD 791 units) as compared to 156 units in January 2020 (LYTD 937 units), representing a decline of 1.3% (YTD decline of 15.6%)

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