VE Commercial Vehicles Reports 3.7% YoY Sales Growth in December

VE Commercial Vehicles saw a 3.7% YoY sales increase in December. Domestic sales of Eicher-branded trucks and buses remained stable at 7,545 units.

New Delhi - VE Commercial Vehicles Ltd., a joint venture between Eicher Motors and Volvo Group, reported a 3.7% year-on-year increase in total sales for December. VECV sells trucks and buses under the Eicher and Volvo brands across India.

The company sold a total of 8,324 Eicher and Volvo branded trucks and buses in December 2024, up from 8,026 units last year. Eicher sales reached 8,035 units, a 3.2% year-on-year increase, while Volvo sales grew by 21.9%, totaling 289 units.

Eicher domestic sales remained stable at 7,545 units, compared to 7,468 units in December of the previous year. However, exports saw a significant rise of 52.6%, reaching 490 units.

In the domestic market, Eicher's light and medium-duty truck sales (3.5-18.5T) totaled 3,641 units in December 2024, down 5.9% from 3,868 units in December 2023. Meanwhile, sales of heavy-duty trucks (18.5T or more) rose by 2.3%, reaching 2,137 units compared to 2,088 units in the same month last year.

Eicher's light and medium-duty bus segment saw an 18.4% year-on-year increase in domestic sales, reaching 1,582 units, while the heavy-duty bus segment also grew by 5.1%, with sales totaling 185 units. In the first nine months of the financial year, VECV recorded a 2.8% year-on-year growth, selling 61,486 units.

VECV operates nine manufacturing facilities in India and has a dealership network of over 990 touchpoints. In addition to producing Eicher trucks and buses, the company manufactures engines for the Volvo Group and has a non-automotive engines and components business. VECV exports its products to more than 40 countries.