By Priya Singh
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Updated On: 02-Sep-2024 11:58 AM
VECV's August 2024 sales declined by 2.58% to 5,315 units. Eicher Trucks reported a 3.42% decrease in sales.
Key Highlights:
In August 2024, VECV, a prominent player in India's commercial vehicle market, witnessed a decline of 2.85% in its sales. The company, known for its diversified portfolio of trucks and buses, sold a total of 5,315 units compared to 5,471 units in August 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 3.42% decline in CV Sales
Eicher Trucks, a subsidiary of VECV, experienced a 3.42% year-on-year decline in its commercial vehicle sales from August 2023 to August 2024. The company sold a total of 5,055 units in August 2024, which is lower than the 5,234 units sold in the same period last year.
Segment-Wise Sales Performance
Eicher Truck Domestic Sales Results
Category | August 2024 | August 2023 | Growth % |
L&M Duty | 3,241 | 3,463 | -6.40% |
Heavy Duty | 1,611 | 1,540 | 4.60% |
Total Domestic sale | 4,852 | 5,003 | -3.02% |
LD & LMD Segment (3.5-18.5T) Trucks: Sales in this segment experienced a decline of 6.40%, with 3,241 units sold in August 2024 compared to 3,463 units in August 2023.
Heavy Duty Segment: Similarly, the heavy-duty segment also experienced a growth in sales by 4.60%, selling 1,611 units in August 2024 compared to 1,540 units in August 2023.
Eicher Truck Exports Results
Category | August 2024 | August 2023 | Growth % |
L&M duty | 169 | 168 | 0.60% |
Heavy duty | 34 | 63 | -46.00% |
Total Eicher Export sale | 203 | 231 | -12.12% |
LMD Segment: Export sales in this segment increased by 0.60%, with 169 CV units sold in August 2024 compared to 168 units in August 2023.
Heavy Duty Segment: Similarly, export sales in the heavy-duty segment witnessed a decline of 46.0%, with 34 units sold in August 2024 compared to 63 units in August 2023.
Export Eicher Truck Sales decreased by 12.12% in August 2024
Eicher truck export sales dropped by 12.12% in August 2024, with 203 units sold compared to 231 in August 2023.
Volvo Trucks sales grew by 9.70% in August 2024
Volvo Trucks reported a growth in sales by 9.70%, selling 260 units in August 2024 compared to 237 units in August 2023.
Also Read: VECV Sales Report June 2024: 5,355 units sold; sales grew by 7.14%
CMV360 Says
The overall decline in VECV's sales highlights the challenges in the current market. However, the growth in the heavy-duty segment and Volvo Trucks shows that some areas are still doing well. This mixed performance suggests that while the company faces some hurdles, there are also opportunities for improvement.