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Press Release | January, 2018

VE Commercial Vehicles sells 3176 units in November 2016, recording a decline of 12.7%

VE Commercial Vehicles Ltd. (A Volvo Group and Eicher Motors joint venture) has sold 3176 units in November 2016 as compared to 3639 units in November 2015 recording a decline of 12.7%. However, on YTD basis, we continue to have a handsome growth of 18.5% with YTD sales of 37215 units as against last year YTD of 31409 units. This month 3176 units includes 3067 units of Eicher brand and 109 units of Volvo brand.

Following are the key highlights for November 2016

  • Eicher branded trucks and buses have recorded total sales of 3067 units in November 2016 (FYTD 36579) as compared to 3534 units in November 2015 (LFYTD 30561), representing a decline of 13.2% (FYTD Growth of 19.7%).
  • In the domestic CV market, Eicher branded trucks & buses have recorded sales of 2408 units in November 2016 (FYTD 31126) as compared to 2905 units in November 2015 (LFYTD 26539), representing a decline of 17.1% (FYTD Growth of 17.3%).
  • On the Exports front Eicher branded trucks & buses have recorded sales of 659 units in November 2016 (FYTD 5453) as compared to 629 units in November 2015 (LFYTD 4022), representing a growth of 4.8% (FYTD Growth of 35.6%).
  • Volvo trucks have recorded sales of 109 units in November 2016 (FYTD 636) as compared to 105 units in November 2015 (LFYTD 848) representing a growth of 3.8% (FYTD decline of 25%).

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