Companies

Volvo Eicher sees recovery in commercial vehicle sales

Ayushi Kar Mumbai | Updated on October 20, 2021

Reported a sale of 6,070 vehicle units in October 2021

Volvo Eicher Commercial Vehicles is seeing significant demand recovery following the Covid second wave. However, CEO and MD of VECV, Vinod Aggarwal believes that the company is yet to reach peak sales numbers, seen in 2019 and 2018.

The commercial vehicles manufacturer, which is seeing a rapid increase in sales since the end of the second wave, reported a sale of 6,070 vehicle units during the month of October 2021. Thus, seeing an increase of 73 per cent year-on-year against a sale of 3,506 units in October 2020. VECV has also surpassed pre-pandemic sales, selling 60 per cent higher units in October 2021, against 3,784 units sold in October 2019.

Aggarwal believes that economic recovery, particularly in the construction segment as well as the school segment, are going to be major factors in a future sales bump for VECV. “The commercial vehicle segment is a cyclical one. It was seeing a slump, especially with the pandemic. However, right now is the time for uptick and recovery. This should continue for quite some time.” Aggarwal said. Aggarwal also told BusinessLine that VECV is expecting future demand from the school segment, and is already starting to receive tenders to supply buses from State transportation units.

New launch

As Volvo Eicher sees recovery in the commercial vehicle segment, VECV has launched its first new product after incorporating Volvo Buses India. VECV launched an all-new Coach and Sleeper bus range. The customised buses are designed and built-in Volvo Buses India’s factory in Hosakote, for luxury intercity bus travel.

“A year ago, we announced the formation of a bus division within VECV, with the clear aim to shape the developments in the Indian bus industry. Today I am proud to launch a new range that synergises the Eicher brand’s extensive local presence and expertise in value engineering with Volvo Buses India’s competence in the premium bus segment. This product truly combines the ‘best-of-both-worlds’,” Aggarwal said.

Published on October 20, 2021

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