VECV Sales Report June 2024: 5,355 units sold; sales grew by 7.14%

Key Highlights:

• VECV reports a 7.14% growth in June 2024 CV sales.
• Eicher Trucks' sales grow by 9.04% YoY, reaching 5,245 units in June 2024.
• Eicher Truck's domestic sales: LMD and heavy-duty segment experienced growth in sales.
• Eicher Truck exports surge by 173.64%, with 353 units in June 2024.
• Volvo sales witness a decline in sales by 41.49%, selling 110 units in June 2024.

In June 2024, VECV, a prominent player in India's commercial vehicle market, witnessed a notable 7.14% growth in its sales. The company, known for its diversified portfolio of trucks and buses, sold a total of 5,355 units compared to 4,998 units in June 2023.

VECV, a joint venture between the Volvo Group and Eicher Motors, has emerged as a key player in India's commercial vehicle market.

Eicher Records 9.04% growth in CV Sales

Eicher Trucks, a subsidiary of VECV, experienced a 9.04% year-on-year growth in its commercial vehicle sales from June 2023 to June 2024. The company sold a total of 5,245 units in June 2024, which is higher than the 4,810 units sold in the same period last year.

Segment-Wise Sales Performance

Eicher Truck Domestic Sales Results

LD & LMD Segment (3.5-18.5T) Trucks: Sales in this segment saw a growth of 2.78%, with 3,101 units sold in June 2024 compared to 3,017 units in June 2023.

Heavy Duty Segment: Similarly, the heavy-duty segment also experienced a growth in sales by 7.63%, selling 1,791 units in June 2024 compared to 1,664 units in June 2023.

Eicher Truck Exports Sale Report

LMD Segment: Export sales in this segment increased by 157.52%, with 291 CV units sold in June 2024 compared to 113 units in June 2023.

Heavy Duty Segment: Similarly, export sales in the heavy-duty segment witnessed a growth of 287.50%, with 62 units sold in June 2024 compared to 16 units in June 2023.

Export Eicher Truck Sales increased by 173.64% in June 2024

Overall, export sales of Eicher trucks witnessed growth in June 2024, with a total of 353 CV units sold as compared to 129 units sold in June 2023, showing a year-on-year growth of 173.64%.

Volvo Trucks sales declined by 41.49% in June 2024

Volvo Trucks reported a decline in sales by 41.49%, selling 110 units in June 2024 compared to 188 units in June 2023.

Also Read: VECV Sales Report May 2024: 4,908 units sold; sales grew by 8.42%

CMV360 Says

In June 2024, VECV's 7.14% sales growth highlights its steady momentum in India's commercial vehicle sector, showcasing resilience amidst market challenges. Eicher Trucks' 9.04% increase demonstrates strong domestic demand, particularly in light and heavy-duty segments, signaling robust operational strategies. 

Meanwhile, Volvo Trucks' decline by 41.49% reflects broader market dynamics. VECV's growth shows it's making smart moves to stay strong in a competitive market.