VECV sells 4,333 units of commercial vehicles in November 2023 with a 3.78% YoY growth

VECV sold 4,333 units of commercial vehicles in November month; Eicher Trucks sold 3,992 units and Volvo trucks also saw 12% growth with a total of 205 units being sold in the month.

VE Commercial Vehicles, a joint venture of Volvo Trucks and Eicher Trucks, has released the commercial vehicle (CV) sales numbers for November 2023. VECV reported a 3.78% year-on-year (YoY) growth with total sales (Domestic + Export) of 4,333 units. Compared to last year, the total sales were at 4,175 units in November.

Eicher trucks experienced a gain of 3.41% with CV sales reaching 4,128 units for the month. The sales numbers stood at 3,992 units in Nov 2022.

Volvo trucks also witnessed a 12% growth in CV sales. The company sold a total of 205 units of CVs in Nov which were at 183 units last year.

| Category | November 2023 | November 2022 | YoY Change ||--------------------|---------------|---------------|------------|| Total Eicher Sales | 4,128 | 3,992 | +3.41% || Total Volvo Sales | 205 | 183 | +12% || Total VECV Sales | 4,333 | 4,175 | +3.78% |

Eicher CVs Domestic Sales Report for Nov 2023

| Category | November 2023 | November 2022 | YoY Change ||--------------------------------|---------------|---------------|------------|| LD & LMD trucks (3.5T - 18.5T) | 2,579 | 2,526 | +2.10% || HD trucks (> 18.5T) | 1,357 | 1,319 | +2.90% || Total Domestic | 3,936 | 3,845 | +2.37% |

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Eicher trucks saw a slight growth in domestic sales with a +2.37% YoY change. The brand sold 3,936 units of CVs for the month. To illustrate, sales for Nov 2022 were at 3,845 units.

The company also noted a slight growth of 2.10% in the LMD category (3.5T - 18.5T) with total sales reaching 2,579 units.

For the heavy-duty (HD > 18.5T) trucks category, the manufacturer sold 1,357 units of CVs. A growth of 2.90% is noted when compared to 1,319 total sales of last year.

Eicher CVs Export Sales Report for Nov 2023

| Category | November 2023 | November 2022 | YoY Change ||-------------------|---------------|---------------|------------|| Low & Medium Duty | 167 | 102 | +63.70% || Heavy Duty | 25 | 45 | -44.40% || Total Exports | 192 | 147 | +30.61% |

Eicher performed remarkably in international markets. A YoY growth of 30.61% is seen for total exports by Eicher trucks.

The company reported a hike of 63.70% in the LMD segment under the exports category. However, the brand only sold 25 units of HD trucks in the month. HD trucks is the only segment that experienced a decline with -44.40% YoY change.