Eicher Trucks and Buses Launches Incentive Program

Key Highlights:

• Eicher Trucks and Buses offer 1.25% to 3% off new trucks and buses with a valid Certificate of Deposit from old vehicles.
• The program starts on September 1, 2024, and lasts for two years or until further notice.
• Customers can use the incentive for new vehicles with similar or different capacities.
• Certificates of Deposit can be transferred to others for the same benefits.
• VECV supports the government's Vehicle Scrappage Policy to promote cleaner, safer vehicles.

Eicher Trucks and Buses, a business unit of VE Commercial Vehicles (VECV), announced a scheme to incentivize customers to buy new trucks and buses in exchange for a valid Certificate of Deposit of old vehicles under the Government of India's Vehicle Scrappage Policy.

Buyers of new vehicles with a valid Certificate of Deposit from any recognised scrappage shop can get incentives ranging from 1.25% to 3% of the base cost of a vehicle with payload or seat capacity similar to the scrapped unit, according to the scheme's conditions. 

If equivalent vehicles are not available, clients can buy trucks or buses with a larger or lower tonnage or seating capacity.

"The government's forward-thinking Vehicle Scrappage Policy is a watershed moment in supporting a circular economy and encouraging the use of cleaner, safer automobiles. VECV fully supports the policy, and our initiative intends to incentivize operators of old vehicles of any brand to upgrade to Eicher's range of modern, safer, and ecologically friendly vehicles," stated Vinod Aggarwal, MD and CEO of VECV.

The program begins on September 1, 2024 and will operate for two years, or until further notice. To encourage greater acceptance of the initiative, VECV will allow owners of scrapped vehicles to transfer their Certificates of Deposit to a third party, who will then be eligible for similar incentives.

VECV is a joint venture of the Volvo Group and Eicher Motors. Since August 2008, the company has been in operation for 15 years, producing and selling the entire range of Eicher branded trucks and buses in 40 countries, as well as Volvo Buses India, exclusive distribution of Volvo Trucks in India, engine manufacturing and exports for the Volvo Group, and Eicher's non-automotive engines and components.

Also Read: VECV Unveils Latest Range of Buses at PRAWAAS 4.0

CMV360 Says

Eicher’s new incentive program is a smart move, encouraging the upgrade to modern, eco-friendly vehicles. It supports both the industry and environmental goals by making it easier and more affordable to replace old vehicles.