Eicher Motors Observes 9 Percent Sales Growth For Its Commercial Vehicles In June 2024 YoY

Eicher Motors witnessed the sale of 5245 commercial vehicle units in June 2024 as compared to 4810 units in June 2023, reflecting 9.04 percent sales growth. Let's explore its sales report.

Key Highlights

• VECV commercial vehicle sales report, covering both Volvo and Eicher trucks, was released for June 2024.
• In the domestic market, the light and medium-duty truck portfolio of Eicher saw a marginal sales growth of 2.78 percent in June 2024 compared to June last year.
• In the export market, Eicher’s heavy-duty truck portfolio observed a significant sales growth of 287.5 percent in June 2024 YoY (year on year). 

Being a joint venture between Volvo Group and Eicher Motors, VECV announced the commercial vehicle sales report for June 2024. The latest commercial vehicle sales report encompasses the sales of light and medium-duty trucks (LMD), heavy-duty trucks (HD) of Eicher Motors, and Volvo trucks and buses in both domestic and export markets. 

Considering the domestic and export sales data, Eicher Motors experienced a sales growth of 9.04 percent after selling 5245 units in the last month compared to 4810 units in June 2023. Except for Volvo commercial vehicle sales, the sales of VECV witnessed positive growth in the month of June 2024. 

Related Link: Mahindra Witnesses A Significant Domestic Sales Growth Of 77 Percent YoY In June 2024 In MHCV & Heavier LCV Segment

Insights Of Eicher CV Sales Report June 2024

Volvo trucks and buses saw a sales decline of 41.5 percent by selling 110 units in June of 2024 compared to 188 units in the same month of 2023. In June 2024, Eicher sold 3101 units of LMD trucks weighing between 3.5 tonnes and 18.5 tonnes in comparison to 3017 units in June 2023, showing a slight increment of 2.78 percent in the domestic market.  

In the case of the heavy-duty truck (weighing more than 18.5-tonne) category, Eicher Motors observed a sales growth of 7.63 percent in India by selling 1791 units in June of the financial year 2025, compared to 1664 units in June of the financial year 2024. 

While discussing the domestic sales of Eicher commercial vehicles, the brand sold 4892 units in June 2024 as compared to 4681 units in June 2023, registering a 4.51 percent sales growth. In the case of international market sales through export in June 2024, Eicher sold 291 LMD trucks which shows a 157.5 percent increase in sales compared to 113 units in June 2023.

For the sales of Eicher HD trucks through export, the company sold 62 units in June 2024 compared to only 16 units in 2023, indicating a remarkable sale growth of 287.5 percent. This way, Eicher Motors reported a 173.64 percent increase in its commercial vehicle sales through export by selling 353 units in June 2024 compared to 129 units in June 2023. 

Bottomline

Overall, VECV jointly recorded a 7.14 percent sales growth after selling 5355 commercial vehicle units in June 2024 compared to 4998 units in June 2023. It shows the opportunities, challenges, and resilience within the commercial vehicle industry. 

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