Positive Market Signs for 2016, as VECV Booms with 57% Growth
Published On Mar 02, 2016
The year 2015 has been splendid for all players in the heavy-duty space. A sharp recovery in the commercial vehicle market led to a resurgent demand, boomed sales and revived business for companies which had otherwise been stagnating in the market downfall earlier on. The rewards of a revitalised market have followed CV brands into this year as well, as sales continue to surge amid infrastructure and transport demand. While the tide of glory was seen to be restricted to the largest brands such as Tata and Ashok Leyland, even less dominant marques have seen some rich benefits.
Volvo Eicher has marked a massive sales boost for the month of February. In particular, the company relished a sound performance on the exports front this year. It sent out 672 units this year, against 326 units in 2015, giving a whopping 106.1 percent increase. Overall, the company's sales shot up by 57 percent on a year-on-year basis. In February last year, it had rolled out 3200 vehicles, while the figure for this year rose to a solid 5032 units.
On a segregated basis, Eicher branded trucks saw a sales of 3100 units in February 2015. The value for this year jumped to 4963 units, yielding a growth of 59%. In the domestic field, Eicher trucks registered sales of 4264 units this February, against 2774 units in February 2015. At par with the general trend, this reflected a strong growth of 53.7 percent.
VECV (Volvo Eicher Commercial Vehicles) is a joint venture between domestic bred Eicher and Swedish giant Volvo. Established in 2008, the venture aimed to tap into the thriving heavy duty demand in India. Both the companies own a 50 percent share each of the venture.