VE Commercial Vehicles sells 3538 units in August 2019

VE Commercial Vehicles Ltd. (A Volvo Group and Eicher Motors joint venture) recorded sales 3538 units in August 2019 (YTD 20917 units) as compared to 6069 units in August 2018 (LYTD 28360), recording decline of 41.7%(YTD decline 26.2%). This includes 3462 units of Eicher brand and 76 units of Volvo brand.

Following are the key highlights for August 2019:

• Eicher branded trucks & buses have recorded sales of 3462 units in August 2019 (YTD 20597 units), as compared to 5948 units in August 2018 (LYTD 27993 units), representing a decline of 41.8% (YTD decline of 26.4%).
• In the domestic CV market, Eicher branded trucks & buses have recorded sales of 3144 units in August 2019 (YTD 19084 units) as compared to 4843 units in August 2018 (LYTD 24155 units), representing a decline of 35.1 % (YTD decline of 21%)
• On the Exports front, Eicher branded trucks & buses have recorded sales of 318 units in August 2019 (YTD 1513 units) as compared to 1105 units in August 2018 (LYTD 3838 units), representing a decline of 71.2% (YTD decline of 60.6%).
• Volvo Trucks has recorded sales of 76 units in August 2019 (YTD 320 units) as compared to 121 units in August 2018 (LYTD 367 units), representing a decline of 37.2% (YTD decline of 12.8%).

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.