By Priya Singh
3915 Views
Updated On: 01-Apr-2024 02:19 PM
VECV reported a total of 8,610 CV units sold in March 2024, reflecting a decline of 4.50% from the 9,016 units sold in March 2023.
Key Highlights:
• VEVC reports a 4.50% decline in March 2024 CV sales.
• Eicher Trucks' sales drop 5.70% YoY, reaching 8,354 units in March 2024.
• Eicher Truck's domestic sales: LMD segment down 10.50%, heavy-duty up 0.70%.
• Eicher Truck exports surge by 23.37%, 359 units in March 2024.
• Volvo Trucks witness an 11.80% sales growth, selling 256 units in March 2024.
In March 2024, VEVC, a prominent player in India's commercial vehicle market, witnessed a notable 4.50% decline in its sales. The company, known for its diversified portfolio of trucks and buses, sold a total of 8,610 units compared to 9,016 units in March 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 5.70% Decline in CV Sales
Eicher Trucks, a subsidiary of VEVC, experienced a 5.70% year-on-year decline in its commercial vehicle sales from March 2023 to March 2024. The company sold a total of 8,354 units in March 2024, which is lower than the 8,859 units sold in the same period last year.
Segment-Wise Sales Performance
Eicher Truck Domestic Sales Show Mixed Results
Category | March 2024 | March 2023 | Growth % |
L&M Duty | 5,032 | 5,625 | -10.50% |
Heavy Duty | 2,963 | 2,943 | 0.70% |
Total Domestic sale | 7,995 | 8,568 | -6.69% |
LD & LMD Segment (3.5-18.5T) Trucks: Sales in this segment saw a decline of 10.50%, with 5,032 units sold in March 2024 compared to 5,625 units in March 2023.
Heavy Duty Segment: However, the heavy-duty segment experienced a slight growth of 0.70%, selling 2,963 units in March 2024 compared to 2,943 units last year.
Eicher Truck Exports Show Mixed Results
Category | March 2024 | March 2023 | Growth % |
L&M duty | 311 | 179 | 73.70% |
Heavy duty | 48 | 112 | -57.10% |
Total Eicher Export sale | 359 | 291 | 23.37% |
LMD Segment: Export sales in this segment soared by 73.70%, with 311 CV units sold in March 2024 compared to 179 units in March 2023.
Heavy Duty Segment: On the other hand, export sales in the heavy-duty segment witnessed a decrease of 57.10%, with 48 units sold in March 2024 compared to 112 units last year.
Export Eicher Truck Sales surged by 23.37% in March 2024
Overall, export sales of Eicher trucks witnessed significant growth in March 2024, with a total of 359 CV units sold as compared to 291 units in March 2023, showing an impressive growth of 23.37% year-on-year.
Volvo Trucks sales increased by 11.80% in March 2024
Volvo Trucks reported a growth in sales by 11.80%, selling 256 units in March 2024 compared to 229 units in March 2023.
Also Read: VEVC Reports 0.97% Growth in February 2024 CV Sales
VECV Records 4.50% Decline in Overall CV Sales
Considering both Volvo Trucks and Eicher Trucks, VECV reported a total of 8,610 CV units sold in March 2024, reflecting a decline of 4.50% from the 9,016 units sold in March 2023.
CMV360 Says
The March 2024 VEVC Sales Report shows a 4.50% decline in overall commercial vehicle sales. While Eicher Trucks experienced a 5.70% drop, Volvo Trucks saw an 11.80% increase. This highlights shifting trends in the market. Despite challenges, VEVC remains a significant player, adapting to evolving consumer demands.