VECV to Launch Three New Pro Series Models This Year
Published On Sep 21, 2016
Although the current commercial vehicle (CV) market scenario does not look promising, auto makers are looking for an optimistic future and are coming up with new strategies for the second half of the financial year. One of them is VE Commercial Vehicles, which is planning to add three new models to its existing Pro series range by the end of this year. The company will also work towards capacity expansion and has already started readying itself to meet the April 2017 deadline for Euro VI emission norms.
Apart from the new models, VECV will also introduce new variants to its existing models.
Last month, the CV industry registered a 7.67 percent growth (271,805 units) in the cumulative sales from April to August 2016-17 as compared to the same period the previous year (251,750 units). Sales of medium and heavy commercial vehicles witnessed a 4.4 percent growth (112,916 units) during the same April-August time period as compared to the previous year (108,151 units).
The CV maker is assured of a growing demand for its vehicles due to an increasing use of Volvo’s technologies and processes. Also, the company is strengthening its foothold in India as well as expanding its reach in other countries.
Mr.Vinod Aggarwal, CEO, VECV, said, “We are planning to launch three new products under Pro series. We have grown by 30 percent in the first four months and will have a healthy growth in the coming months. If industry grows by 10-12 percent, we would be growing faster than the industry. Last year we sold around 52,000 units of trucks and buses.”
In order to cater to the demand, VECV is currently expanding its Pithampur facility in Madhya Pradesh from 5,500 units to 7,000 units per month. The CV maker will be investing INR 400 crore for expanding its plant and developing the new vehicles. Besides this, the company has already started working to deliver new products as per the Euro IV emission norms in 2017.