VE Commercial Vehicles sells 3755 units in October 2019
VE Commercial Vehicles Ltd. (A Volvo Group and Eicher Motors joint venture) recorded sales 3755 units in October 2019 (YTD 28456 units) as compared to 5980 units in October 2018 (LYTD 41003), recording decline of 37.2%(YTD decline 30.6%). This includes 3681 units of Eicher brand and 74 units of Volvo brand.
Following are the key highlights for October 2019:
- Eicher branded trucks & buses have recorded sales of 3681 units in October 2019 (YTD 27951 units), as compared to 5826 units in October 2018 (LYTD 40407 units), representing a decline of 36.8% (YTD decline of 30.8%).
- In the domestic CV market, Eicher branded trucks & buses have recorded sales of 3309 units in October 2019 (YTD 25533 units) as compared to 5121 units in October 2018 (LYTD 34961units), representing a decline of 35.4 % (YTD decline of 27%)
- On the Exports front, Eicher branded trucks & buses have recorded sales of 372 units in October 2019 (YTD 2418 units) as compared to 705 units in October 2018 (LYTD 5446 units), representing a decline of 47.2% (YTD decline of 55.6%).
- Volvo Trucks has recorded sales of 74 units in October 2019 (YTD 505 units) as compared to 154 units in October 2018 (LYTD 596 units), representing a decline of 51.9% (YTD decline of 15.3%).
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.