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Press Release | January, 2018

VE Commercial Vehicles sells 4191 units in August 2016, recording a robust growth of 12.9%

VE Commercial Vehicles Ltd. (A Volvo Group and Eicher Motors joint venture) has sold 4191 units in August 2016 (FYTD 24636) as compared to 3711 units in August 2015 (LFYTD 19537) recording a growth of 12.9% (FYTD Growth of 26.1%). This includes 4100 units of Eicher brand and 91 units of Volvo brand.

The following are the key highlights for August 2016

  • Eicher branded trucks and buses have recorded total sales of 4100 units in August 2016 (FYTD 24329) as compared to 3611 units in August 2015 (LFYTD 19126), representing a growth of 13.5% (FYTD Growth of 27.2%).
  • In the domestic CV market, Eicher branded trucks & buses have recorded sales of 3450 units in August 2016 (FYTD 20716) as compared to 3009 units in August 2015 (LFYTD 16716), representing a growth of 14.7% (FYTD Growth of 23.9%).
  • On the Exports front Eicher branded trucks & buses have recorded sales of 650 units in August 2016 (FYTD 3613) as compared to 602 units in August 2015 (LFYTD 2410), representing a growth of 8.0% (FYTD Growth of 49.9%).
  • Volvo trucks have recorded sales of 91 units in August 2016 (FYTD 307) as compared to 100 units in August 2015 (LFYTD 411).

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