By Priya Singh
3815 Views
Updated On: 01-Mar-2024 05:21 PM
February 2024 CV Sales Report: VEVC Marks 0.97% Growth, Eicher Trucks Records 1.21% YoY Increase. Dive into Segment-Wise Performance and Export Surges in India's Commercial Vehicle Market.
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
Category | February 2024 | February 2023 | Growth % |
Low & medium Duty | 3,274 | 3,212 | 1.90% |
Heavy Duty | 1,861 | 1,881 | -1.10% |
Total Domestic sale | 5,135 | 5,093 | 0.82% |
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
Category | February 2024 | February 2023 | Growth % |
Low & Medium duty | 183 | 164 | 11.60% |
Heavy duty | 30 | 27 | 11.10% |
Total Export sale | 213 | 191 | 11.52% |
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.