VE commercial vehicles Sales July 2024: 1,152 Units Sold

Key Highlights

• VE Commercial Vehicles sales up 12.86% to 5,152 units.
• Eicher Trucks saw a 12.43% rise in sales.
• Volvo Trucks increased sales by 26.24%.
• Heavy-duty export sales surged by 50.98%.

VE Commercial Vehicles (VECV), a partnership between Volvo Trucks and Eicher Trucks, recorded a significant increase in commercial vehicle sales for July 2024. The total number of VECVs sold, including both domestic and export sales, reached 5,152 units, compared to 4,565 units in July 2023, marking a 12.86% rise.

Eicher CV Sales Rose by 12.43% in July 2024

Eicher Trucks experienced a notable 12.43% surge in commercial vehicle (CV) sales, with 4,974 units sold in July 2024 compared to 4,424 units in July 2023. The domestic sales saw a 12.84% increase, reaching 4,658 units from 4,128 units in July 2023.

Segment-Wise Sales

Light and Medium Duty (LMD) Trucks

• The LMD segment (3.5-15T) sold 3,156 CV units in July 2024, compared to 2,759 CV units in July 2023.
• This represents a 14.39% rise in sales.

Heavy Duty Trucks

• Sales in the Heavy Duty segment (>18.5T) also saw an increase, with 1,502 units sold in July 2024, compared to 1,369 units in July 2023.
• This results in a 9.72% increase.

Export Sales Data

Low and Medium Duty (LMD) Trucks

• The LMD segment of Export Eicher Truck sales decreased by 2.45%, with 239 CV units sold in July 2024 compared to 245 units in July 2023.

Heavy Duty Trucks

• The Heavy Duty export segment saw a significant increase of 50.98%, with 77 units sold in July 2024 compared to 51 units in July 2023.

Total Export Sales

• Overall, the Export Eicher Truck Sales for July 2024 were 316 units, compared to 296 units in July 2023, marking a 6.76% year-over-year increase.

Volvo Truck Performance

Volvo Trucks experienced a substantial 26.24% increase in sales, with 178 units sold in July 2024, up from 141 units in July 2023.

Overall Performance

Overall, VECV, the joint venture between Volvo Trucks and Eicher Trucks, sold a total of 5,152 CV units in July 2024, recording a 12.86% increase compared to the 4,565 units sold in July 2023.

Also Read: Mahindra Records Decline in Domestic CV Sales – 23,306 Units Sold in July 2024

CMV360 Says

In July 2024, VE Commercial Vehicles achieved a 12.86% sales increase, with Eicher Trucks rising by 12.43% and Volvo Trucks by 26.24%. Key drivers included strong domestic growth in light and medium-duty trucks, and a notable boost in heavy-duty exports, despite a slight drop in low and medium-duty exports.