Press Release | April, 2021

VE Commercial Vehicles sells 7037 units in March 2021

VE Commercial Vehicles Ltd. (A Volvo Group and Eicher Motors joint venture) recorded sales of 7037 units in March 2021 (YTD 41268 units) as compared to 1499 units in March 2020 (LYTD 48721), recording growth of 369.4% (YTD decline 15.3%). This includes 6870 units of Eicher brand and 167 units of Volvo brand.

Following are the key highlights for March 2021:

  • Eicher branded trucks & buses have recorded sales of 6870 units in March 2021 (YTD 40188 units), as compared to 1476 units in March 2020 (LYTD 47614 units), representing a growth of 365.4% (YTD decline of 15.6%).
  • In the domestic CV market, Eicher branded trucks & buses have recorded sales of 6054 units in March 2021 (YTD 35163 units) as compared to 1409 units in March 2020 (LYTD 43046), representing a growth of 329.7% (YTD decline of 18.3%).
  • On the Exports front, Eicher branded trucks & buses have recorded sales of 816 units in March 2021 (YTD 5025 units) as compared to 67 units in March 2020 (LYTD 4568 units), representing a growth of 1117.9% (YTD growth of 10%).
  • Volvo Trucks and Volvo Buses have recorded sales of 167 units in March 2021 (YTD 1080 units) as compared to 23 units in March 2020 (LYTD 1107 units), representing a growth of 608.7% (YTD decline of 3.8%)

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