Press Release | April, 2022

VE Commercial Vehicles sells 8803 units in March 2022

VE Commercial Vehicles Ltd. (A Volvo Group and Eicher Motors joint venture) recorded sales of 8803 units in March 2022 (YTD 57077 units) as compared to 7037 units in March 2021 (LYTD 41267), recording growth of 25.1% (YTD growth 38.3%). This includes 8581 units of Eicher brand and 222 units of Volvo brand.

Following are the key highlights for March 2022:

  • Eicher branded trucks & buses have recorded sales of 8581 units in March 2022 (YTD 55824 units), as compared to 6870 units in March 2021 (LYTD 40188 units), representing a growth of 24.9% (YTD growth of 38.9%)
  • In the domestic CV market, Eicher branded trucks & buses have recorded sales of 7929 units in March 2022 (YTD 47398 units) as compared to 6054 units in March 2021 (LYTD 35163), representing a growth of 31% (YTD growth of 34.8%).
  • On the Exports front, Eicher branded trucks & buses have recorded sales of 652 units in March 2022 (YTD 8426 units) as compared to 816 units in March 2021 (LYTD 5025 units), representing a decline of 20.1% (YTD growth of 67.7%).
  • 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