VEVC Reports 0.97% Growth in February 2024 CV Sales

Key Highlights:
•    VEVC reports a 0.97% growth in February 2024 CV sales.
•    Eicher Trucks' sales rise 1.21% YoY, reaching 5,135 units in February 2024.
•    Eicher Truck's domestic sales: LMD segment up 1.90%, heavy-duty down 1.10%.
•    Eicher Truck exports surge by 74.15%, hitting 213 units in February 2024.
•    Volvo Trucks witness a 5.80% sales decline, selling 178 units in February 2024.

In February 2024, VEVC, a prominent player in India's commercial vehicle market, witnessed a notable 0.97% growth in its sales. The company, known for its diversified portfolio of trucks and buses, sold a total of 5,526 units compared to 5,473 units in February 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 Trucks Records 1.21% YoY Growth in CV Sales

Eicher Trucks, a subsidiary of VEVC, experienced a commendable 1.21% year-on-year growth in its commercial vehicle sales from February 2023 to February 2024. The company sold a total of 5,348 units in February 2024, marking an increase from the 5,284 units sold in the same period last year.

Segment-Wise Sales Performance

Eicher Truck Domestic Sales Show Mixed Results

LMD Segment (3.5-15T): Sales in this segment saw a robust increase of 1.90%, with 3,274 units sold in February 2024 compared to 3,212 units in February 2023.

Heavy Duty Segment: However, the heavy-duty segment experienced a slight decline of 1.10%, selling 1,861 units in February 2024 compared to 1,881 units last year.

Eicher Truck Exports Show Mixed Results

LMD Segment: Export sales in this segment increased by 11.60%, with 183 CV units sold in February 2024 compared to 164 units in February 2023.

Heavy Duty Segment: Conversely, export sales in the heavy-duty segment witnessed a increase of 11.10%, with 30 units sold in February 2024 compared to 27 units last year.

Also Read: VEVC Reports 4.48% Drop in January 2024 CV Sales

Export Eicher Truck Sales surged by 11.52% in February 2024

Overall, export sales for Eicher Trucks experienced a remarkable surge in February 2024, totaling 213 CV units compared to 191 units in February 2023, marking an impressive 11.52% year-on-year growth.

Volvo Trucks sales decline by 5.80% in February 2024

Volvo Trucks reported a decline in sales by 5.80%, selling 178 units in February 2024 compared to 189 units in February 2023.

VECV Records 0.97% Decline in Overall CV Sales

Considering both Volvo Trucks and Eicher Trucks, VECV reported a total of 5,526 CV units sold in February 2024, reflecting a marginal decline of 0.97% from the 5,473 units sold in February 2023.