VE Commercial Vehicles sells 1223 units in May 2021
VE Commercial Vehicles Ltd. (A Volvo Group and Eicher Motors joint venture) recorded sales of 1223 units in May 2021 (YTD 3368 units) as compared to 686 units in May 2020 (LYTD 771), recording growth of 78.3% (YTD growth 336.8 %). This includes 1175 units of Eicher brand and 48 units of Volvo brand.
Following are the key highlights for May 2021:
- Eicher branded trucks & buses have recorded sales of 1175 units in May 2021 (YTD 3271 units), as compared to 661 units in May 2020 (LYTD 740 units), representing a growth of 77.8% (YTD growth of 342%).
- In the domestic CV market, Eicher branded trucks & buses have recorded sales of 656 units in May 2021 (YTD 2211 units) as compared to 430 units in May 2020 (LYTD 468), representing a growth of 52.6% (YTD growth of 372.4%).
- On the Exports front, Eicher branded trucks & buses have recorded sales of 519 units in May 2021 (YTD 1060 units) as compared to 231 units in May 2020 (LYTD 272 units), representing a growth of 124.7% (YTD growth of 289.7%).
- Volvo Trucks and Volvo Buses have recorded sales of 48 units in May 2021 (YTD 97 units) as compared to 25 units in May 2020 (LYTD 31 units), representing a growth of 92% (YTD growth of 212.9%)
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.