Tuesday, 2 January 2018

Volvo Eicher sales up 50% in December on strong LMD sales

Volvo Eicher Commercial Vehicles (VECV), the Joint Venture (JV) between the Volvo Group and Eicher Motors Limited (Eicher), reported 50% volume growth in December 2017, helped by strong sales in the domestic LMD (Light and medium duty) truck segment (78% yoy), domestic HD (heavy duty) truck segment (60% yoy) and exports (30% yoy). Sales of brand Volvo were up 29% yoy, while total domestic sales were up 55% yoy.

Volvo Eicher Commercial Vehicles (VECV) has a market share of 33.5% in domestic commercial vehicles. VECV comprises of five business verticals–Eicher Trucks and Buses, Volvo Trucks India, Eicher Engineering Components and VE Powertrain. The company has posted a revenue growth of 14% in FY17.

Eicher Motors Ltd is currently trading at Rs28,954.15, down by Rs947.15 or 3.17% from its previous closing of Rs29,901.3 on the BSE.


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