Eicher Motors Limited’s unlisted subsidiary, VE Commercial Vehicles Limited (VECV), reported a stable performance in September 2025, with total sales slightly surpassing last year’s figures. The company’s sales, including electric vehicles (EVs), reached 7,619 units, marking a marginal 0.1% increase compared to 7,609 units in September 2024. Year-to-date (YTD) sales for FY26 stood at 43,511 units, up 7.5% from 40,476 units in the same period last year.
Domestic Sales
In the domestic market, VECV sold 6,652 units in September 2025, slightly lower than 6,847 units in the same month last year, representing a 2.8% decline. The YTD domestic sales, however, showed a positive trend with 39,130 units, growing 5.7% from 37,014 units in FY25.
Breaking it down by segments:
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Small Commercial Vehicles (SCV) / Light Medium Duty (LMD) Trucks (<18.5T): 3,801 units, 7.2% growth YoY.
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Heavy Duty (HD) Trucks (≥18.5T): 1,955 units, 4.3% decline YoY.
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LMD Buses: 801 units, 27.3% decline YoY.
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HD Buses: 95 units, 39.5% decline YoY.
Export Performance
VECV’s exports demonstrated robust growth in September, totaling 700 units, up 47.4% from 475 units in September 2024. Year-to-date export sales surged 40.4% to 3,259 units from 2,322 units in FY25. Notable growth segments include:
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LMD Trucks: 423 units (17.8% YoY growth)
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HD Trucks: 113 units (276.7% YoY growth)
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Buses: 164 units (90.7% YoY growth)
Volvo Trucks & Buses
Volvo Trucks & Buses, part of VECV, recorded 267 units in September, slightly lower than 287 units last year, marking a 7% decline. YTD sales stood at 1,122 units, down 1.6% from FY25.
