Volvo Eicher Commercial Vehicles (VECV) on Tuesday said the company is expecting 15 per cent market share in the Indian heavy trucks segment in the next three years.
The company is a 50:50 joint venture (JV) between Volvo Group of Sweden and one of India’s oldest companies Eicher Motors.
VECV that launched three trucks under its Pro 6000 series of next generation heavy duty trucks, said is expecting such target to achieve from this series in the future.
The three models -- Pro 6031 (31T GVW 8X2), Pro 6025 (25T GVW 6x2) haulage trucks and Pro 6025T (25T GVW 6X4) tipper – that will be priced between ₹21 lakh and ₹30 lakh, also marks the entry of Eicher brand into a new phase of growth and consolidation in the heavy-duty commercial vehicle market, it said.
“Our aspiration is to become strong player in the heavy duty segment, that is 16-49 tonnes category. The three trucks launched will help us achieve the target of 15 per cent market share in the next three years,” Vinod Aggarwal, Chief Executive Officer, VCEV told reporters here.
The company currently has around four per cent market share in the segment, he said adding that the company has also invested around ₹2,300 crore in the last four-five years on infrastructure development, new products and revamping and modernising the entire set up.
The Pro series of trucks are being launched in a phased manner with Pro 1000 and Pro 3000 series already being introduced in the country.