Press Release | June, 2019

VE Commercial Vehicles sells 4801 units in May 2019

VE Commercial Vehicles Ltd. (A Volvo Group and Eicher Motors joint venture) recorded sales 4801 units in May 2019(YTD 8762 units) as compared to 5977 units in May 2018(LYTD 9937), recording decline of 19.7%(YTD decline 11.8%). This includes 4750 units of Eicher brand and 51 units of Volvo brand.

Following are the key highlights for May 2019:

  • Eicher branded trucks & buses have recorded sales of 4750 units in May 2019 (YTD 8632 units), as compared to 5874 units in May 2018 (LYTD 9814 units), representing a decline of 19.1 % (YTD decline of 12.0%).
  • In the domestic CV market, Eicher branded trucks & buses have recorded sales of 4446 units in May 2019 (YTD 8109 units) as compared to 5268 units in May 2018 (LYTD 8658 units), representing a decline of 15.6 % (YTD decline of 6.3%).
  • On the Exports front, Eicher branded trucks & buses have recorded sales of 304 units in May 2019 (YTD 523 units) as compared to 606 units in May 2018 (LYTD 1156 units), representing a decline of 49.8% (YTD decline of 54.8%).
  • Volvo Trucks has recorded sales of 51 units in May 2019 (YTD 130 units) as compared to 103 units in May 2018 (LYTD 123 units), representing a decline of 50.5 % (YTD growth of 5.7%).

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