VE Commercial Vehicles total sales up 6.5% at 6,715 units in June

VE Commercial Vehicles on Saturday reported a 6.5 percent rise in total sales at 6,715 units in June 2023. The company, a joint venture between the Volvo Group and Eicher Motors, had sold 6,307 units in June 2022.

During the quarter under review, the underlying demand continued to remain healthy, led by growth in different industries such as mining, coal, and infra, coupled with the last mile segment.

However, there has been some weakness in the agri-sector, especially in rural areas, resulting in a slight decline in the utilisation levels. Freight rates have largely remained stable.

Sales last month included 6,527 units of Eicher brand and 188 units of Volvo brand commercial vehicles, VE Commercial Vehicles (VECV) said in a statement.

Domestic sales of Eicher vehicles were at 6,277 units in June, as against 5,584 units in the year-ago month, up 12.4 percent, while exports were at 250, as compared to 601 units in June 2022, down 58.4 percent, the company said.

For Volvo trucks and buses, sales were at 188 units in June 2023, as compared to 122 units in the same month a year ago, a growth of 54.1 percent, it added.