VE Commercial Vehicles sells 4271 units in July 2021
VE Commercial Vehicles Ltd. (A Volvo Group and Eicher Motors joint venture) recorded sales of 4271 units in July 2021 (YTD 10077 units) as compared to 2184 units in July 2020 (LYTD 4313), recording growth of 95.6% (YTD growth 133.6 %). This includes 4193 units of Eicher brand and 78 units of Volvo brand.
Following are the key highlights for July 2021:
- Eicher branded trucks & buses have recorded sales of 4193 units in July 2021 (YTD 9834 units), as compared to 2135 units in July 2020 (LYTD 4196 units), representing a growth of 96.4% (YTD growth of 134.4%).
- In the domestic CV market, Eicher branded trucks & buses have recorded sales of 3553 units in July 2021 (YTD 7524 units) as compared to 1734 units in July 2020 (LYTD 3218), representing a growth of 104.9% (YTD growth of 133.8%).
- On the Exports front, Eicher branded trucks & buses have recorded sales of 640 units in July 2021 (YTD 2310 units) as compared to 401 units in July 2020 (LYTD 978 units), representing a growth of 59.6% (YTD growth of 136.2%).
- Volvo Trucks and Volvo Buses have recorded sales of 78 units in July 2021 (YTD 243 units) as compared to 49 units in July 2020 (LYTD 117 units), representing a growth of 59.2% (YTD growth of 107.7%)
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.