VE Commercial Vehicles Ltd. (VECV), a joint venture between Volvo Group and Eicher Motors, reported sales of 7,609 units in September 2024, reflecting a 5.7% growth compared to the 7,198 units sold in September 2023. The surge in sales includes 7,322 units under the Eicher brand and 287 units from the Volvo brand.
Eicher Branded Vehicles:
Eicher-branded trucks and buses recorded a sales increase of 5.1%, reaching 7,322 units in September 2024, up from 6,965 units in the same month last year.
- Domestic Sales: The domestic commercial vehicle market saw a modest 2.0% growth, with 6,847 units sold in September 2024 compared to 6,715 units in September 2023.
- Exports: Exports of Eicher-branded vehicles skyrocketed by 90%, with 475 units sold in September 2024, compared to 250 units in September 2023.
Volvo Branded Vehicles:
Volvo trucks and buses also showed a significant 23.2% growth, with sales rising to 287 units in September 2024 from 233 units in the previous year.
VECV’s strong performance in exports and steady domestic demand have contributed to its positive sales growth, reinforcing its position in the commercial vehicle market.
