VE Commercial Vehicles Limited (VECV) reported a 10.1% year-on-year growth in total sales for March 2026, selling 13,311 units compared to 12,094 units in the same month last year.
The growth was largely driven by the strong performance of its Eicher segment, which recorded sales of 13,113 trucks and buses, marking a 10.6% increase from 11,852 units sold in March 2025.
In the domestic commercial vehicle market, Eicher branded trucks and buses posted a robust 13.6% growth, with sales rising to 12,706 units in March 2026 from 11,187 units a year earlier. The figures highlight steady demand and improved market traction in India’s CV segment.
However, the company faced challenges in its export business. VECV reported exports of 407 units in March 2026, a sharp decline of 38.8% compared to 665 units in March 2025, indicating pressure in overseas markets.
Meanwhile, the Volvo Trucks and Volvo Buses segment also saw a dip in performance. Combined sales stood at 198 units, down 18.2% from 242 units recorded in the corresponding month last year.
VECV, a joint venture between Volvo Group and Eicher Motors Limited, continues to maintain a strong presence in India’s commercial vehicle industry through its multi-brand and multi-division operations. The company manufactures and sells a wide range of trucks and buses under the Eicher brand, while also handling the distribution of Volvo Trucks in India.
Operational since 2008, VECV has established itself as a key player in modernizing commercial transportation in India and other developing markets. Its business portfolio also includes engine manufacturing and exports for the Volvo Group, along with non-automotive engine solutions and component manufacturing.
Despite headwinds in exports and premium segments, the company’s overall growth in March reflects resilience in domestic demand, particularly in the light and medium-duty truck and bus segments led by Eicher.
