Press Release | November, 2021

VE Commercial Vehicles sells 5805 units in October 2021

VE Commercial Vehicles Ltd. (A Volvo Group and Eicher Motors joint venture) recorded sales of 5805 units in October 2021 (YTD 26745 units) as compared to 4200 units in October 2020 (LYTD 14496), recording growth of 38.2% (YTD growth 84.5 %). This includes 5689 units of Eicher brand and 116 units of Volvo brand.

Following are the key highlights for October 2021:

  • Eicher branded trucks & buses have recorded sales of 5689 units in October 2021 (YTD 26204 units), as compared to 4130 units in October 2020 (LYTD 14216 units), representing a growth of 37.7% (YTD growth of 84.3%).
  • In the domestic CV market, Eicher branded trucks & buses have recorded sales of 4863 units in October 2021 (YTD 21477 units) as compared to 3815 units in October 2020 (LYTD 12163), representing a growth of 27.5% (YTD growth of 76.6%).
  • On the Exports front, Eicher branded trucks & buses have recorded sales of 826 units in October 2021 (YTD 4727 units) as compared to 315 units in October 2020 (LYTD 2053 units), representing a growth of 162.2% (YTD growth of 130.2%).
  • Volvo Trucks and Volvo Buses have recorded sales of 116 units in October 2021 (YTD 541 units) as compared to 70 units in October 2020 (LYTD 280 units), representing a growth of 65.7% (YTD growth of 93.2%)

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