Press Release | October, 2020

VE Commercial Vehicles sells 3506 units in September 2020

VE Commercial Vehicles Ltd. (A Volvo Group and Eicher Motors joint venture) recorded sales of 3506 units in September 2020 (YTD 10296 units) as compared to 3784 units in September 2019 (LYTD 24701), recording decline of 7.3% (YTD decline 58.3%). This includes 3450 units of Eicher brand and 56 units of Volvo brand.

Following are the key highlights for September 2020:

  • Eicher branded trucks & buses have recorded sales of 3450 units in September 2020 (YTD 10086 units), as compared to 3673 units in September 2019 (LYTD 24270 units), representing a decline of 6.1 (YTD decline of 58.4%).
  • In the domestic CV market, Eicher branded trucks & buses have recorded sales of 2940 units in September 2020 (YTD 8348 units) as compared to 3140 units in September 2019 (LYTD 22224), representing a decline of 6.4% (YTD decline of 62.4%).
  • On the Exports front, Eicher branded trucks & buses have recorded sales of 510 units in September 2020 (YTD 1738 units) as compared to 533 units in September 2019 (LYTD 2046 units), representing a decline of 4.3% (YTD decline of 15.1%).
  • Volvo Trucks has recorded sales of 56 units in September 2020 (YTD 210 units) as compared to 111 units in September 2019 (LYTD 431 units), representing a decline of 49.5% (YTD decline of 51.3%).

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