Press Release | March, 2022

VE Commercial Vehicles sells 5856 units in February 2022

VE Commercial Vehicles Ltd. (A Volvo Group and Eicher Motors joint venture) recorded sales of 5856 units in February 2022 (YTD 48274 units) as compared to 5457 units in February 2021 (LYTD 34228), recording growth of 7.3% (YTD growth 41 %). This includes 5745 units of Eicher brand and 111 units of Volvo brand.

Following are the key highlights for February 2022:

  • Eicher branded trucks & buses have recorded sales of 5745 units in February 2022 (YTD 47243 units), as compared to 5335 units in February 2021 (LYTD 33318 units), representing a growth of 7.7% (YTD growth of 41.8%)
  • In the domestic CV market, Eicher branded trucks & buses have recorded sales of 5093 units in February 2022 (YTD 39469 units) as compared to 4825 units in February 2021 (LYTD 29109), representing a growth of 5.6% (YTD growth of 35.6%).
  • On the Exports front, Eicher branded trucks & buses have recorded sales of 652 units in February 2022 (YTD 7774 units) as compared to 510 units in February 2021 (LYTD 4209 units), representing a growth of 27.8% (YTD growth of 84.7%).
  • Volvo Trucks and Volvo Buses have recorded sales of 111 units in February 2022 (YTD 1031 units) as compared to 122 units in February 2021 (LYTD 910 units), representing a decline of 9.0% (YTD growth of 13.3%)

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