VE Commercial Vehicles

Crisil Ratings said post the rationalisation of GST on commercial vehicles, acquisition of new fleet by the operators would decline substantially. It said in a statement on Monday that GST on commercial vehicles has been reduced to 18 per cent from 28 per cent. "This will bring down the acquisition cost of fleet operators," it said. Domestic commercial fleet operators are expected to clock a revenue growth of eight per cent to ten per cent this financial year, according to the statement. Strong domestic demand and import-related fleet requirements will drive growth. Higher revenues and stable margins will result in improved cash flows, which will partially fund the incremental working capital requirement, the statement said. Dependence on external short-term debt will be limited, and operators will undertake additions to their fleets funded by long-term loans. Increased fleet utilisation will ensure operating margins to remain stable between eight per cent to 8.5 per cent, accordi

In February 2024, the industry saw a slight 0.7 per cent year-on-year decline in wholesale volumes, although it managed a 5.1 per cent sequential growth

VE Commercial Vehicles on Monday said it has tied up with GMCG major ITC to promote sustainable and environment-friendly mid-mile logistics solutions. As part of the collaboration, ITC, through its vendor partners, will progressively deploy over 100 units of the 5.5-tonne electric vehicle, the Eicher Pro 2055 EV, for mid-mile transportation from ITC warehouses to customer locations. "This is very much in line with VECV's idea of providing modern solutions for modern logistics, focused on higher productivity and efficiency," VE Commercial Vehicles (VECV) MD and CEO Vinod Aggarwal said in a statement. ITC Ltd Divisional Chief Executive (Trade Marketing and Distribution) Sandeep Sule said building agile, resilient and green supply chains is an integral part of the company's next strategy which is aimed at shaping the next horizon of growth and structural competitiveness. "Towards this, we are partnering with various stakeholders for the deployment of EVs in end-to-end logistics ...

Buoyed by improving highway infrastructure, demand for buses has grown by more than 35%. Overcrowded trains are also adding to the growing road-based transport

The company also expressed its commitment to aggressively target markets such as West Asia, South East Asia, and Africa for future export growth

The ratings agency said increasing regulatory requirements, elevated inflation and high interest rates have pushed up the ownership costs, thereby weighing on purchase decisions

VE Commercial Vehicles Ltd on Monday reported a 6.5 per cent growth in sales at 6,715 units in June 2023. The company, a joint venture between the Volvo Group and Eicher Motors, had sold 6,307 units in June 2022, VE Commercial Vehicles (VECV) said in a statement. Eicher branded trucks and buses recorded sales of 6,527 units last month as against 6,185 units in June 2022, a growth of 5.5 per cent, it added. In the domestic market, sales of Eicher branded trucks and buses grew by 12.4 per cent to 6,277 units as compared with 5,584 units in the corresponding month last year. Exports of Eicher branded commercial vehicles were at 250 units last month, down from 601 units in the year-ago period. Volvo trucks and buses recorded sales of 188 units in June 2023 over 122 units in June 2022, representing a growth of 54.1 per cent, the company said.

VE Commercial Vehicles Ltd on Monday reported a 35.2 per cent increase in sales at 11,906 units in March 2023, as compared to 8,803 units in the same month last year. The company, a joint venture of the Volvo Group and Eicher Motors, said Eicher branded trucks and recorded sales of 11,677 units last month, as compared to 8,581 units in March 2022, up 36.1 per cent, the company said in a statement. Domestic sales of Eicher branded trucks and buses were at 11,263 units, as against 7,929 units in March 2022, a growth of 42 per cent, while exports were at 414 units last month, down from 652 units in March 2022. Volvo Trucks and buses posted sales of 229 units, as against 222 units in March 2022, a growth of 3.2 per cent, it said.

Auto industry has 'mostly overcome' semiconductor issue, says leader of Volvo Eicher Commercial Vehicles

VE Commercial Vehicles Ltd on Monday reported a 17.3 per cent growth in total sales at 7,221 units in December 2022. The company, a joint venture of the Volvo Group and Eicher Motors, had sold 6,154 units in December 2021, VE Commercial Vehicles (VECV) said in a statement. December 2022 sales included 7,003 units of Eicher brand and 218 units of Volvo brand, it added. In the domestic commercial vehicles market, Eicher branded trucks and buses recorded sales of 6,671 units last month as compared to 5,192 units in December 2021, a growth of 28.5 per cent. Exports of Eicher branded trucks and buses, however, declined 59 per cent at 332 units, as compared to 810 units in December 2021, it added.

VE Commercial Vehicles Ltd on Thursday reported a 4.4 per cent growth in total sales at 5,003 units in August 2022. The company, a joint venture of the Volvo Group and Eicher Motors, had sold 4,793 units in the same month last year, VE Commercial Vehicles (VECV) said in a statement. Sales of Eicher branded trucks and buses were at 4,893 units last month as against 4,667 units in the year-ago period, a growth of 4.8 per cent. Domestic sales of Eicher trucks and buses stood at 4,530 units as compared to 3,864 units in August 2021, while exports were at 363 units, down from 803 units earlier. Volvo trucks and buses posted sales of 110 units in August 2022 as compared to 126 units in the same month last year, down 12.7 per cent, the company said.

Company betting on alternate fuels for growth in commercial vehicles sales, says senior executive

Last week, the government had cleared the PLI scheme for the auto industry with an outlay of Rs 25,938 crore, slashed from the initial outlay of Rs 57,042 crore

VE Commercial Vehicles Ltd, a joint venture between Volvo Group and Eicher Motors, on Wednesday reported a nearly two-fold jump in total sales at 4,793 units in August 2021. The company had sold a total of 2,477 units in the same month last year, VE Commercial Vehicles Ltd (VECV) said in a statement. Sales of Eicher branded trucks and buses were at 4,667 units last month as compared to 2,440 units in August 2020, a growth of 91.3 per cent, it added. In the domestic market, Eicher brand of CVs clocked sales of 3,864 units as against 2,190 units in the year-ago month, up 76.4 per cent. Exports of Eicher branded trucks and buses stood at 803 units last month as compared to 250 units in August 2020. Volvo trucks and Volvo buses recorded sales of 126 units in August 2021 as against 37 units in the corresponding month last year, the company said.

VECV entered into a business transfer agreement on Aug 12 with Volvo Group India for acquisition, as a going concern on slump sale basis, of the bus business of Volvo Group India, Eicher Motors said

The development of a sustainable replacement demand requires a comprehensive end of life policy for CVs

Company reports a 50% drop in domestic M&HCV sales in October, led mainly by a decline in truck volumes

Total sales of Eicher-branded trucks and buses rose by 17 per cent to 4,734 units in September against 4,047 in the corresponding month of 2015

The company is a joint venture between Sweden's Volvo Group and Eicher Motors

In the domestic market, sales of Eicher trucks and buses stood at 4,256 units in June compared with 3,537 units in the year-ago month