VECV reports bus sales rising, sees chip crisis easing in 3 months

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

VE Commercial Vehicles (VECV) expects bus sales in India to grow to 60,000 units this financial year, up from 18,000 in 2021-22, said a senior executive of the Volvo Group and Eicher Motors joint venture company.

Vinod Aggarwal, managing director and chief executive officer of VECV, said the company is betting on alternate fuels like compressed natural gas, liquefied natural gas, and electric.

Bus sales increased to 19,000 units in the first four months of 2022-23, compared to 18,000 for the pandemic-affected financial year 2021-22. “In 5 tonne and above, we are likely to see bus sales increase to