VE Commercial Vehicles sells 2477 units in August 2020

VE Commercial Vehicles Ltd. (A Volvo Group and Eicher Motors joint venture) recorded sales of 2477 units in August 2020 (YTD 6790 units) as compared to 3538 units in August 2019 (LYTD 20917), recording decline of 30% (YTD decline 67.5%). This includes 2440 units of Eicher brand and 37 units of Volvo brand.

Following are the key highlights for August 2020:

• Eicher branded trucks & buses have recorded sales of 2440 units in August 2020 (YTD 6636 units), as compared to 3462 units in August 2019 (LYTD 20597 units), representing a decline of 29.5 (YTD decline of 67.8%).
• In the domestic CV market, Eicher branded trucks & buses have recorded sales of 2190 units in August 2020 (YTD 5408 units) as compared to 3144 units in August 2019 (LYTD 19084), representing a decline of 30.3 % (YTD decline of 71.7%).
• On the Exports front, Eicher branded trucks & buses have recorded sales of 250 units in August 2020 (YTD 1228 units) as compared to 318 units in August 2019 (LYTD 1513 units), representing a decline of 21.4% (YTD decline of 18.8%).
• Volvo Trucks has recorded sales of 37 units in August 2020 (YTD 154 units) as compared to 76 units in August 2019 (LYTD 320 units), representing a decline of 51.3% (YTD decline of 51.9%).

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.