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Press Release | January, 2018

VE Commercial Vehicles sells 5492 units in February 2017, recording a growth of 9.1%

VE Commercial Vehicles Ltd. (A Volvo Group and Eicher Motors joint venture) has sold 5492 units in February 2017 (FYTD 51270) as compared to 5032 units in February 2016 (LFYTD 45272) recording a growth of 9.1% (FYTD Growth of 13.2%). This includes 5372 units of Eicher brand and 120 units of Volvo brand.

Following are the key highlights for February 2017

  • Eicher branded trucks and buses have recorded total sales of 5372 units in February 2017 (FYTD 50346) as compared to 4936 units in February 2016 (LFYTD 44150), representing a growth of 8.8% (FYTD Growth of 14.0%).
  • In the domestic CV market, Eicher branded trucks & buses have recorded sales of 4821 units in February 2017 (FYTD 42989) as compared to 4264 units in February 2016 (LFYTD 38327), representing a growth of 13.1% (FYTD Growth of 12.2%).
  • On the Exports front Eicher branded trucks & buses have recorded sales of 551 units in February 2017 (FYTD 7357) as compared to 672 units in February 2016 (LFYTD 5823), representing a decline of 18.0% (FYTD growth of 26.3%).
  • Volvo trucks have recorded sales of 120 units in February 2017 (FYTD 924) as compared to 96 units in February 2016 (LFYTD 1122), representing a growth of 25%.

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