VE Commercial Vehicles Register 19.8% Growth in January 2017
Published On Feb 01, 2017
VE Commercial Vehicles Ltd. (a Volvo Group and Eicher Motors joint venture) has sold 4515 units in January 2017 as compared to 3768 units in January 2016 recording a growth of 19.8%. This includes 4449 units of Eicher brand and 66 units of Volvo brand.
The collaboration between Volvo and Eicher, with 45778 truck and bus sales in the current fiscal year, has registered a growth of 13.8 percent in this Financial Year Till Date (FYTD). VECV had managed to sell only 40240 buses and trucks during the same duration last financial year (LFYTD).
Eicher branded trucks and buses have recorded total sales of 4449 units in January 2017 (FYTD 44974) as compared to 3707 units in January 2016 (LFYTD 39214), representing a growth of 20.0% (FYTD Growth of 14.7%).
In the domestic CV market, Eicher branded trucks & buses have recorded sales of 3796 units in January 2017 (FYTD 38168) as compared to 3415 units in January 2016 (LFYTD 34063), representing a growth of 11.2% (FYTD Growth of 12.1%).
On the exports front Eicher branded trucks & buses have recorded sales of 653 units in January 2017 (FYTD 6806) as compared to 292 units in January 2016 (LFYTD 5151), representing a growth of 123.6% (FYTD growth of 32.1%).
Volvo trucks have recorded sales of 66 units in January 2017 (FYTD 804) as compared to 61 units in January 2016 (LFYTD 1026), representing a growth of 8.2%.
Truck and bus sales were hit severely by cash crunch caused due to demonetization in India. However CV makers have started registering promising numbers once again. We assume that more number of trucks will sell as the cash flow in market gets better.
Consumers looking forward to buy new trucks want to do so before the BS-IV and mandatory AC regulations kick in from April 1, 2017. It is assumed that truck prices, after April 1, 2017 will get dearer by at least a lakh of Indian rupees.