VE Commercial Vehicles Ltd. (VECV), a joint venture between the Volvo Group and Eicher Motors Limited, reported a significant sales milestone in May 2023. The company sold a total of 6,289 units in May 2023, marking an impressive growth of 11.6% compared to May 2022, when 5,637 units were sold. The sales figures include 6,076 units under the Eicher brand and 213 units under the Volvo brand.
Eicher branded trucks and buses witnessed robust sales of 6,076 units, showing a growth rate of 10.4% compared to May 2022, when 5,504 units were sold.
In the domestic commercial vehicle market, Eicher branded trucks and buses experienced substantial growth, with sales reaching 5,826 units in May 2023, a remarkable increase of 15.8% compared to 5033 units in May 2022.
However, on the exports front, Eicher branded trucks and buses faced a decline, with sales dropping to 250 units in May 2023 from 471 units in May 2022, reflecting a decline of 46.9%.
Volvo Trucks and Volvo Buses also demonstrated impressive sales performance, with 213 units sold in May 2023 compared to 133 units in May 2022, representing a remarkable growth rate of 60.2%.