VE Commercial Vehicles sells 3784 units in September 2019

VE Commercial Vehicles Ltd. (A Volvo Group and Eicher Motors joint venture) recorded sales 3784 units in September 2019 (YTD 24701 units) as compared to 6663 units in September 2018 (LYTD 35023), recording decline of 43.2%(YTD decline 29.5%). This includes 3673 units of Eicher brand and 111 units of Volvo brand.

Following are the key highlights for September 2019:

• Eicher branded trucks & buses have recorded sales of 3673 units in September 2019 (YTD 24270 units), as compared to 6588 units in September 2018 (LYTD 34581 units), representing a decline of 44.2% (YTD decline of 29.8%).
• In the domestic CV market, Eicher branded trucks & buses have recorded sales of 3140 units in September 2019 (YTD 22224 units) as compared to 5685 units in September 2018 (LYTD 29840 units), representing a decline of 44.8 % (YTD decline of 25.5%)
• On the Exports front, Eicher branded trucks & buses have recorded sales of 533 units in September 2019 (YTD 2046 units) as compared to 903 units in September 2018 (LYTD 4741 units), representing a decline of 41% (YTD decline of 56.8%).
• Volvo Trucks has recorded sales of 111 units in September 2019 (YTD 431 units) as compared to 75 units in September 2018 (LYTD 442 units), representing a growth of 48% (YTD decline of 2.5%).

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.