Press Release | February, 2022

VE Commercial Vehicles sells 5434 units in January 2022

VE Commercial Vehicles Ltd. (A Volvo Group and Eicher Motors joint venture) recorded sales of 5434 units in January 2022 (YTD 42418 units) as compared to 5673 units in January 2021 (LYTD 28771), recording decline of 4.2% (YTD growth 47.4 %). This includes 5325 units of Eicher brand and 109 units of Volvo brand.

Following are the key highlights for January 2022:

  • Eicher branded trucks & buses have recorded sales of 5325 units in January 2022 (YTD 41498 units), as compared to 5519 units in January 2021 (LYTD 27983 units), representing a decline of 3.5% (YTD growth of 48.3%)
  • In the domestic CV market, Eicher branded trucks & buses have recorded sales of 4523 units in January 2022 (YTD 34376 units) as compared to 4964 units in January 2021 (LYTD 24284), representing a decline of 8.9% (YTD growth of 41.6%).
  • On the Exports front, Eicher branded trucks & buses have recorded sales of 802 units in January 2022 (YTD 7122 units) as compared to 555 units in January 2021 (LYTD 3699 units), representing a growth of 44.5% (YTD growth of 92.5%).
  • Volvo Trucks and Volvo Buses have recorded sales of 109 units in January 2022 (YTD 920 units) as compared to 154 units in January 2021 (LYTD 788 units), representing a decline of 29.2% (YTD growth of 16.8%)

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