VE Commercial Vehicles posts 7.3% growth in November sales

VE Commercial Vehicles Ltd. (VECV), a joint venture between Volvo Group and Eicher Motors, reported a 7.3% year-on-year growth in sales in November. The company sold 5,574 units during the month, compared to 5,194 units in November 2023, supported by robust performance across its Eicher and Volvo product lines.

The Eicher brand, which forms the bulk of VECV’s portfolio, recorded sales of 5,359 units in November 2024, up 7.4% from 4,989 units in the same period last year. Domestic sales of Eicher-branded trucks and buses stood at 4,957 units, marking a 5.8% increase from the 4,686 units sold in November 2023. Exports also contributed significantly to the growth, with sales rising by 32.7% to 402 units, compared to 303 units in the previous year.

The Volvo brand recorded a more modest increase, with sales of 215 units in November 2024, compared to 205 units a year earlier, reflecting a 4.9% growth. This includes both Volvo Trucks and Volvo Buses, which cater to premium and specialised segments in commercial transportation.

VECV has been operational since December 2008, combining the engineering expertise of Volvo Group and the regional experience of Eicher Motors. The company’s portfolio spans Eicher-branded trucks and buses, Volvo Buses, and the exclusive distribution of Volvo Trucks in India. Additionally, VECV is engaged in engine manufacturing and exports for the Volvo Group, alongside non-automotive engines and Eicher component businesses.

With its multi-brand, multi-division operations, VECV is helping modernize commercial transportation in India and other developing markets. The company's products and services aim to meet the evolving needs of customers while maintaining high standards of efficiency and sustainability.

The November sales figures reinforce VECV's strategy to capture growth opportunities in both domestic and export markets. The company’s commitment to "modernising commercial transportation" is evident in its consistent efforts to deliver superior value across its product and service offerings.