VE Commercial Vehicles sells 3594 units in November 2019

VE Commercial Vehicles Ltd. (A Volvo Group and Eicher Motors joint venture) recorded sales 3594 units in November 2019 (YTD 32050 units) as compared to 4720 units in November 2018 (LYTD 45273), recording decline of 23.9%(YTD decline 29.9%). This includes 3450 units of Eicher brand and 144 units of Volvo brand.

Following are the key highlights for November 2019:

• Eicher branded trucks & buses have recorded sales of 3450 units in November 2019 (YTD 31401 units), as compared to 4602 units in November 2018 (LYTD 45009 units), representing a decline of 25% (YTD decline of 30.2%).
• In the domestic CV market, Eicher branded trucks & buses have recorded sales of 2948 units in November 2019 (YTD 28481 units) as compared to 3817 units in November 2018 (LYTD 38778), representing a decline of 22.8 % (YTD decline of 26.6%)
• On the Exports front, Eicher branded trucks & buses have recorded sales of 502 units in November 2019 (YTD 2920 units) as compared to 785 units in November 2018 (LYTD 6231 units), representing a decline of 36.1% (YTD decline of 53.1%).
• Volvo Trucks has recorded sales of 144 units in November 2019 (YTD 649 units) as compared to 118 units in November 2018 (LYTD 714 units), representing a growth of 22% (YTD decline of 9.1%).

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.