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Press Release | January, 2018

VE Commercial Vehicles sells 4374 units in July 2016, recording a robust growth of 18.3%

VE Commercial Vehicles Ltd. (A Volvo Group and Eicher Motors joint venture) has sold 4374 units in July 2016 (FYTD 20445) as compared to 3698 units in July 2015 (LFYTD 15826) recording a growth of 18.3% (FYTD Growth of 29.2%). This includes 4315 units of Eicher brand and 59 units of Volvo brand.

The following are the key highlights for July 2016

  • Eicher branded trucks and buses have recorded total sales of 4315 units in July 2016 (FYTD 20229) as compared to 3652 units in July 2015 (LFYTD 15515), representing a growth of 18.2% (FYTD Growth of 30.4%).
  • In the domestic CV market, Eicher branded trucks & buses have recorded sales of 3664 units in July 2016 (FYTD 17266) as compared to 3050 units in July 2015 (LFYTD 13707), representing a growth of 20.1% (FYTD Growth of 26.0%)
  • On the Exports front Eicher branded trucks & buses have recorded sales of 651 units in July 2016 (FYTD 2963) as compared to 602 units in July 2015 (LFYTD 1808), representing a growth of 8.1% (FYTD Growth of 63.9%).
  • Volvo trucks have recorded sales of 59 units in July 2016 (FYTD 216) as compared to 46 units in July 2015 (LFYTD 311), representing a growth of 28.3%.

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