Press Release | November, 2020

VE Commercial Vehicles sells 4200 units in October 2020

VE Commercial Vehicles Ltd. (A Volvo Group and Eicher Motors joint venture) recorded sales of 4200 units in October 2020 (YTD 14496 units) as compared to 3755 units in October 2019 (LYTD 28456), recording growth of 11.9% (YTD decline 49.1%). This includes 4130 units of Eicher brand and 70 units of Volvo brand.

Following are the key highlights for October 2020:

  • Eicher branded trucks & buses have recorded sales of 4130 units in October 2020 (YTD 14216 units), as compared to 3681 units in October 2019 (LYTD 27951 units), representing a growth of 12.2 (YTD decline of 49.1%).
  • In the domestic CV market, Eicher branded trucks & buses have recorded sales of 3815 units in October 2020 (YTD 12163 units) as compared to 3309 units in October 2019 (LYTD 25533), representing a growth of 15.3% (YTD decline of 52.4%).
  • On the Exports front, Eicher branded trucks & buses have recorded sales of 315 units in October 2020 (YTD 2053 units) as compared to 372 units in October 2019 (LYTD 2418 units), representing a decline of 15.3% (YTD decline of 15.1%).
  • Volvo Trucks has recorded sales of 70 units in October 2020 (YTD 280 units) as compared to 74 units in October 2019 (LYTD 505 units), representing a decline of 5.4% (YTD decline of 44.6%).

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