VE Commercial Vehicles sells 4793 units in August 2021
VE Commercial Vehicles Ltd. (A Volvo Group and Eicher Motors joint venture) recorded sales of 4793 units in August 2021 (YTD 14870 units) as compared to 2477 units in August 2020 (LYTD 6790), recording growth of 93.5% (YTD growth 119.0 %). This includes 4667 units of Eicher brand and 126 units of Volvo brand.
Following are the key highlights for August 2021:
- Eicher branded trucks & buses have recorded sales of 4667 units in August 2021 (YTD 14501 units), as compared to 2440 units in August 2020 (LYTD 6636 units), representing a growth of 91.3% (YTD growth of 118.5%).
- In the domestic CV market, Eicher branded trucks & buses have recorded sales of 3864 units in August 2021 (YTD 11388 units) as compared to 2190 units in August 2020 (LYTD 5408), representing a growth of 76.4% (YTD growth of 110.6%).
- On the Exports front, Eicher branded trucks & buses have recorded sales of 803 units in August 2021 (YTD 3113 units) as compared to 250 units in August 2020 (LYTD 1228 units), representing a growth of 221.2% (YTD growth of 153.5%).
- Volvo Trucks and Volvo Buses have recorded sales of 126 units in August 2021 (YTD 369 units) as compared to 37 units in August 2020 (LYTD 154 units), representing a growth of 240.5% (YTD growth of 139.6%)
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.