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VE Commercial Vehicles (VECV) a joint venture of the Volvo Group and Eicher Motors sold 6,567 units in April 2023, Eicher Motors said in a regulatory filing.
It was basically recovering from the COVID period. And now, I would say you are right that the nominal GDP growth is 12%, 13%, the CV industry overall should grow better than that and we will see that happening I think in the future, it will happen.
With the rising middle class, consumption will get a boost. The overall GDP growth forecast of over 7%, continued policy support for infrastructure investments and electrification, a strong business case to replace old vehicles with vehicles conforming to BS-VI emission standards and designed for revised axle loads and focus on logistics efficiency are likely to drive the auto sector in 2024, Vinod Aggarwal, MD & CEO, VECV, told ETAuto .
VE Commercial Vehicles (VECV) has entered the small commercial vehicle (SCV) segment, unveiling its first product at the Bharat Mobility Global Expo 2024. Eicher Trucks and Buses, a division of VECV, introduced a range spanning 2T to 3.5T Gross Vehicle Weight.