Press Release | March, 2019

VE Commercial Vehicles sells 6428 units in February 2019

VE Commercial Vehicles Ltd. (A Volvo Group and Eicher Motors joint venture) recorded sales of 6428 units in February 2019 as compared to 6889 units in February 2018, recording a decline of 6.7%. This includes 6268 units of Eicher brand and 160 units of Volvo brand.

Following are the key highlights for February 2019:

  • Eicher branded trucks & buses have recorded sales of 6268 units in February 2019 (YTD 63198 units) as compared to 6796 units in February 2018 (LYTD 55632 units), representing a decline of 7.8% (YTD growth at 13.6%)
  • In the domestic CV market, Eicher branded trucks & buses have recorded sales of 5337 units in February 2019 (YTD 54404 units) as compared to 5783 units in February 2018 (LYTD 47896 units) representing a decline of 7.7% (YTD growth at 13.6%)
  • On the Exports front, Eicher branded trucks & buses have recorded sales of 931 units in February 2019 (YTD 8794 units) as compared to 1013 units in February 2018 (LYTD 7736 units), representing a decline of 8.1% (YTD growth at 13.7%)
  • Volvo Trucks has recorded sales of 160 units in February 2019 (YTD 1095 units) as compared to 93 units in February 2018 (LYTD 889 units), representing a growth of 72% (YTD growth at 23.2%)

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