Press Release | July, 2020

VE Commercial Vehicles sells 1358 units in June 2020

VE Commercial Vehicles Ltd. (A Volvo Group and Eicher Motors joint venture) recorded sales of 1358 units in June 2020 (YTD 2129 units) as compared to 4569 units in June 2019 (LYTD 13331), recording decline of 70.3% (YTD decline 84%). This includes 1321 units of Eicher brand and 37 units of Volvo brand.

Following are the key highlights for June 2020:

  • Eicher branded trucks & buses have recorded sales of 1321 units in June 2020 (YTD 2061 units), as compared to 4502 units in June 2019 (LYTD 13134 units), representing a decline of 70.7 (YTD decline of 84.3%).
  • In the domestic CV market, Eicher branded trucks & buses have recorded sales of 1016 units in June 2020 (YTD 1484 units) as compared to 4136 units in June 2019 (LYTD 12245), representing a decline of 75.4 % (YTD decline of 87.9%).
  • On the Exports front, Eicher branded trucks & buses have recorded sales of 305 units in June 2020 (YTD 577 units) as compared to 366 units in June 2019 (LYTD 889 units), representing a decline of 16.7% (YTD decline of 35.1%).
  • Volvo Trucks has recorded sales of 37 units in June 2020 (YTD 68 units) as compared to 67 units in June 2019 (LYTD 197 units), representing a decline of 44.8% (YTD decline of 65.5%).

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.

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For further information, please contact:
Samanvay Sinha
DGM, Brand & Corporate Communications, VECV
Laveena Vohra