Eicher launches new generation of Pro Series light and medium duty Trucks and Buses in Sri Lanka

March 27th, 2015: VE Commercial Vehicles Ltd. (A Volvo Group and Eicher Motors Ltd. Joint Venture in India) through its 100% subsidiary market company, VECV Lanka Private Limited launched the Eicher Pro series of light and medium duty trucks and buses in Colombo, Sri Lanka today. The Eicher Pro Series trucks & buses will meet the needs of the emerging mid-premium market segment, which demands vehicles of higher power and durability, greater comfort and value-added enhanced features at economical cost. In addition it will continue to address the mass-market segment, which demands trucks with value features at low cost of ownership. The next generation of Eicher trucks and buses aims to continuously improve transportation efficiency in the developing markets via relevant modernization, thereby reducing logistics costs for goods and people leading to economic growth and productivity.

Eicher Pro 1000 Series is a new and enhanced range of light and medium duty trucks in the 5-14 Ton segment, specially designed for the value segment with best in class rated payload. They have a trusted and proven E-413 engine with low maintenance and best in class fuel efficiency. The 2 meter wide aerodynamic cabin with new modern styling and value added features delivers better driving comfort and convenience to its users.

Eicher Pro 3000 Series is a completely new generation range of medium duty trucks (10-15 Ton) that is set to change the trucking experience altogether. It is specially designed for emerging premium segment that requires high power and torque combination as well as a greater degree of refinement and sophistication. It has a 4 Cylinder 4 Valve E-423 CRS technology engine with Volvo group Engine Management system (EMS) 3.0, which has high processing capability, optimum balance between load demands, fuel efficiency and emissions control with added advantage of quick and guided diagnostics- all leading to high performance, higher uptime and lower maintenance. The Eicher Pro 3000 vehicles come with 2.1 m wide new generation cab with a sleeper option and also a REST KIT in day cabin. Meeting ECR 27 safety test norms, it has a host of features for driver comfort including 6 way adjustable seat and a first time introduction of cruise control.

Eicher 20.15 Starline heavy duty bus has a seating capacity of 44 to 54 seats and has been specifically designed to suit the requirement of the route permit operations in Sri Lanka. It is powered by the trusted and proven Eicher E-613 engine known for its low maintenance and best in class fuel efficiency. These buses have Sri lanka specific features like corrosion resistant aluminum paneling and rain canopy. These buses are provided with variable suspension and radial tyres for higher passenger & driver comfort and longer tyre life. The longer length and higher width of the buses offer best of seating layout in the saloon area, higher seat pitch for more leg space and a wider gangway. The buses also have a high seat width leading to a comfortable travel experience.

The Eicher Pro Series has been developed and manufactured as a result of the synergistic working between the Volvo Group and Eicher. With the launch today, the Eicher brand enters a new phase of growth and consolidation in the Lankan commercial vehicle market. The Volvo Group has global expertise in understanding the needs of truck customers and has been working with the VECV teams for more than five years now to develop new solutions for developing markets. In the CV industry, fuel-efficiency is a major cost driver, and in this area, the Volvo Group’s technology and Eicher’s competence in frugal engineering have been very complementary.

At the launch, Mr. Emmanuel Levacher, Sr Vice President International Business, VECV commented “Sri Lanka is an important market for VECV and would continue to play a critical role in our growth story. With state of art technology, innovative design and engineering and best in class fuel efficient vehicles, Eicher branded trucks and buses would continue to meet the growing demand and contribute to the prosperity of our valued consumers”

The retail partner of Eicher in Sri Lanka is Senok group, a renowned corporate house with years of business history. The group is headed by Mr. Gerard Fernando, Managing Director, Senok Group. The retail operations are managed and ably supported by a team of seasoned professionals who have rich knowledge and experience of the commercial vehicles industry.

Eicher branded trucks & buses have witnessed growth in a very short span of time in Sri Lanka with strong brand equity in the commercial vehicle space. Eicher was the first CV player to introduce BSIII (Euro III equivalent) vehicles in the country. In the last two years the market share increased in segments of Light and medium duty trucks, Heavy Duty trucks and light and medium duty buses. The Eicher Skyline and Starline brand in 28 to 32 seater bus segment has been very well positioned in the market and achieved 17% Market Share last year. The 7 cubic meter drum concrete mixer on Eicher Terra 25 has attained market leadership within a year. The heavy duty truck range garnered double digit market share at 11%. The network is expanding in Sri Lanka progressively; currently there are 3 sales, service and spare parts set-ups in Colombo, Vavuniya and Matara by Senok with support of additional 20 spare parts retailers spread across the length and breadth of the country. In medium term of 2 to 3 months, 3 more integrated set-ups of sales, service and spare parts will be operational at strategic locations in Kandy, Anuradhapura and Kurunegela.

Eicher trucks and buses are exported from India to more than 25 countries across South Asia, Middle East and Africa supported by a strong distribution and aftermarket network

Disclaimer: All statements included or incorporated by reference in this media release, other than statements or characterizations of historical fact, are forward-looking statements. These forward-looking statements are based on our current expectations, estimates and projections about our industry, management's beliefs and certain assumptions made by us. Although VE Commercial Vehicles believes that the expectations reflected in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. Any forward-looking statement speaks only as of the date on which such statement was made, and VE Commercial Vehicles undertakes no obligation to Update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. No assurance can be given that actual results, performance or achievement expressed in, or implied by, forward-looking statements within this disclosure will occur, or if they do, that any benefits can be derived from them.