VECV Sales Increase by 29.2% in October

VE Commercial Vehicles (VECV) has posted its sales performance for October. The brand has rolled out 3,985 units this month, as placed against 3,084 units same month last year. This yields a reasonable growth of 29.2%. The firm had recorded a sales of 38,790 units for the entire year, and as a result, year-to-date sales have risen by 12.8% over the figure for 2014.

VECV is a collaboration between Sweden based Volvo and Eicher Motors of India, in which both companies own an approximate 50% stake. The enterprise was formed a few years ago, with Volvo's foray into the Indian domain, and acts as Volvo's principal subsidiary for the Indian market. Meanwhile, Eicher made trucks and buses have seen a total sale of 3,854 units in October 2015. Placed against 3,052 units in October 2014, this gives a steady growth of 26.3%. In the domestic CV market, Eicher's trucks and buses have seen a rise of nearly 39%. On the exports fray, the company has sold 388 units, a decline from the 558 units rolled out in 2014. Trucks from Volvo have sold 131 units this October. Pitted against a meagre 32 units in the same period the previous year, this gives the company a massive 309% growth.