Press Release | August, 2020

VE Commercial Vehicles sells 2184 units in July 2020

VE Commercial Vehicles Ltd. (A Volvo Group and Eicher Motors joint venture) recorded sales of 2184 units in July 2020 (YTD 4313 units) as compared to 4048 units in July 2019 (LYTD 17379), recording decline of 46% (YTD decline 75.2%). This includes 2135 units of Eicher brand and 49 units of Volvo brand.

Following are the key highlights for July 2020:

  • Eicher branded trucks & buses have recorded sales of 2135 units in July 2020 (YTD 4196 units), as compared to 4001 units in July 2019 (LYTD 17135 units), representing a decline of 46.6 (YTD decline of 75.5%).
  • In the domestic CV market, Eicher branded trucks & buses have recorded sales of 1734 units in July 2020 (YTD 3218 units) as compared to 3695 units in July 2019 (LYTD 15940), representing a decline of 53.1 % (YTD decline of 79.8%).
  • On the Exports front, Eicher branded trucks & buses have recorded sales of 401 units in July 2020 (YTD 978 units) as compared to 306 units in July 2019 (LYTD 1195 units), representing a growth of 31%% (YTD decline of 18.2%).
  • Volvo Trucks has recorded sales of 49 units in July 2020 (YTD 117 units) as compared to 47 units in July 2019 (LYTD 244 units), representing a growth of 4.3% (YTD decline of 52.0%).

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