VEVC Sales Report April 2024: 3812 units sold, sales decline by 22.50%

Key Highlights:

•    VEVC reports a 22.50% decline in April 2024 CV sales.
•    Eicher Trucks' sales drop 22.35% YoY, reaching 3,689 units in April 2024.
•    Eicher Truck's domestic sales: LMD segment declined by 24.81%, and heavy-duty declined by 20.57%.
•    Eicher Truck exports surge by 8%, 162 units in April 2024.
•    Volvo Trucks witness a decline in sales by 26.79%, selling 123 units in April 2024.

In April 2024, VEVC, a prominent player in India's commercial vehicle market, witnessed a notable 22.50% decline in its sales. The company, known for its diversified portfolio of trucks and buses, sold a total of 3,812 units compared to 4,919 units in April 2023. 

VEVC, 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 22.35% Decline in CV Sales

Eicher Trucks, a subsidiary of VEVC, experienced a 22.35% year-on-year decline in its commercial vehicle sales from April 2023 to April 2024. The company sold a total of 3,689 units in April 2024, which is lower than the 4,715 units sold in the same period last year.

Segment-Wise Sales Performance of Eicher Trucks

Eicher Truck Domestic Sales Results

LD & LMD Segment (3.5-18.5T) Trucks: Sales in this segment saw a decline of 24.81%, with 2,264 units sold in April 2024 compared to 3,011 units in April 2023.

Heavy Duty Segment: Similarly, the heavy-duty segment also experienced a decline in sales by 20.57%, selling 1,263 units in April 2024 compared to 1,590 units last year.

Eicher Truck Exports sales Report

Export Eicher Truck Sales increased by 8% in April 2024

LMD Segment: Export sales in this segment increased by 3.79%, with 137 CV units sold in April 2024 compared to 132 units in April 2023.

Heavy Duty Segment: Similarly, export sales in the heavy-duty segment witnessed an increase of 38.89%, with 25 units sold in April 2024 compared to 18 units in April 2023.

Overall, export sales of Eicher trucks witnessed growth in April 2024, with a total of 162 CV units sold as compared to 150 units sold in April 2023, showing a growth of 8% year-on-year.

Volvo Trucks sales declined by 26.79% in April 2024

Volvo Trucks reported a decline in sales by 26.79%, selling 123 units in April 2024 compared to 168 units in April 2023.

VECV Records 22.50% Decline in Overall CV Sales

Considering both Volvo Trucks and Eicher Trucks, VECV reported a total sales of 3,812 units in April 2024, reflecting a decline of 22.50% from the 4,919 units sold in April 2023.

Also Read: VEVC Sales Report March 2024: 8610 units sold, sales decline 4.50%

CMV360 Says

The drop in sales for VEVC and its branches, like Eicher Trucks and Volvo Trucks, shows tough times in India's commercial vehicle market. Economic slowdown and other issues might be causing this. 

Even though export sales are up slightly, the overall decrease suggests that VEVC needs to find new ways to deal with these challenges and stay strong in a changing market.