New Delhi: VE Commercial Vehicles Ltd. (VECV), a joint venture between the Volvo Group and Eicher Motors, reported a total sale of 7,402 units in May 2025, marking a 7.3% growth over the 6,901 units sold in the same month last year. The steady growth in volumes has been attributed primarily to strong performance by the Eicher brand across domestic and export markets.
Out of the total sales recorded in May 2025, 7,258 units came from Eicher-branded trucks and buses, showing an 8% increase over the 6,719 units sold in May 2024. The brand continues to gain traction in the domestic commercial vehicle (CV) market as well as in exports, reinforcing its position as a key player in the segment.
In the domestic market, Eicher-branded trucks and buses registered sales of 6,758 units during May 2025, compared to 6,304 units in the same month last year. This translates into a 7.2% year-on-year growth, reflecting the company’s expanding presence and acceptance in key commercial vehicle categories.
Exports also contributed significantly to the company’s overall growth. VECV exported 501 units in May 2025, up from 415 units in May 2024, representing a sharp 20.7% increase. The rise in exports underlines the brand’s growing footprint in overseas markets and its competitiveness on the global stage.
However, the performance of the Volvo brand within the joint venture showed a decline. Volvo Trucks and Buses together recorded sales of 144 units in May 2025, down from 182 units in May 2024, registering a de-growth of 20.9%. This drop offset some of the gains made by Eicher and indicates pressure in the premium heavy-duty segment, where Volvo operates.
Despite the decline in Volvo-branded sales, VECV’s overall growth underscores the continued momentum in the commercial vehicle sector, especially in the mid-premium and value segments represented by Eicher. With domestic demand gradually recovering and exports showing promising growth, the company remains optimistic about sustaining its upward trajectory in the coming months.