Press Release | December, 2021

VE Commercial Vehicles sells 4085 units in November 2021

VE Commercial Vehicles Ltd. (A Volvo Group and Eicher Motors joint venture) recorded sales of 4085 units in November 2021 (YTD 30830 units) as compared to 3710 units in November 2020 (LYTD 18206), recording growth of 10.1% (YTD growth 69.3%). This includes 3967 units of Eicher brand and 118 units of Volvo brand.

Following are the key highlights for November 2021:

  • Eicher branded trucks & buses have recorded sales of 3967 units in November 2021 (YTD 30171 units), as compared to 3561 units in November 2020 (LYTD 17777 units), representing a growth of 11.4% (YTD growth of 69.7%).
  • In the domestic CV market, Eicher branded trucks & buses have recorded sales of 3184 units in November 2021 (YTD 24661 units) as compared to 3088 units in November 2020 (LYTD 15251), representing a growth of 3.1% (YTD growth of 61.7%).
  • On the Exports front, Eicher branded trucks & buses have recorded sales of 783 units in November 2021 (YTD 5510 units) as compared to 473 units in November 2020 (LYTD 2526 units), representing a growth of 65.5% (YTD growth of 118.1%).
  • Volvo Trucks and Volvo Buses have recorded sales of 118 units in November 2021 (YTD 659 units) as compared to 149 units in November 2020 (LYTD 429 units), representing a decline of 20.8% (YTD growth of 53.6%)

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