Eicher Motors' Commercial Vehicles Arm Reports Growth in Sales

1 Dec 2023 , 02:38 PM

Eicher Motors Ltd.’s subsidiary VE Commercial Vehicles Ltd. (VECV) has reported a 5.9% increase in dispatches to dealerships for the month of November 2023. This marks a positive trend for the company, as it comes at a time when the overall commercial vehicle (CV) market is facing headwinds.

Sales Highlights

VECV’s domestic sales rose 4.5% to 4,686 units in November 2023, compared to 4,483 units in the same month last year. Exports also witnessed growth, increasing by 27.8% to 303 units from 238 units in November 2022.

Factors Driving Growth

The growth in VECV’s sales can be attributed to a number of factors, including:

• Strong demand for light and medium-duty trucks: There has been a healthy demand for light and medium-duty trucks, which are VECV’s core strength.
• Improvement in the economic outlook: The Indian economy is showing signs of recovery, which is boosting business sentiment and leading to increased demand for CVs.
• New product launches: VECV has launched a number of new products in recent months, which have been well-received by the market.