VE Commercial Vehicles Ltd. (VECV) has received an order of 1,019 units of Eicher 20.15 BS III bus chassis from the Gujarat State Road Transport Corporation (GSRTC). Eicher buses are already in use by GSRTC and are meeting the inter-city and rural connectivity requirements of the State.
Speaking on the occasion, Mr. Vinod Aggarwal, CEO, VE Commercial Vehicles Ltd., observed: “We are thankful to the State of Gujarat for reposing faith in our brand and look forward to this association. The vision of our JV is to drive modernization in the CV space in the emerging markets, and this order is just the right step in that direction”.
The product range of Eicher branded buses includes company-built buses under the brand name Skyline & Starline and also bus chassis for customers to build buses as per their need. Skyline is a premium product offering which delivers to its customer’s superior aesthetics and seating comfort. Starline buses offer maximum value for money.
Eicher Buses have a dominant market share amongst educational institutions. Eicher’s was the first ‘Safe’ school bus to be designed in the country in 1997 in conjunction with the Institute of Road Traffic Association (IRTE). Today the design specifications laid down by the Eicher school bus have become the norm for all school buses to follow.
Eicher buses & chassis are also making rapid inroads into the staff, tourist and public transport deployment where its products have been designed and adapted to the specific needs of these segments.
Eicher buses are known in the market for their overall low cost of ownership, and the reason can be found in the ‘Eicher advantages’. At the core of ‘Eicher advantages’ is the vehicle’s high fuel efficiency.
The company also gained significant entry into State Transport Undertakings (STUs) during the year. It received an order for 600 buses from the Andhra Pradesh State Road Transport Corporation which was successfully executed with the majority of the vehicles being covered by VECV under an annual maintenance contract.
Orders from the Rajasthan State Transport Corporation and the Uttrakhand State Road Transport Corporation reflected the growing confidence of STUs in the Eicher brand.
Investment has also been earmarked for setting an Eicher bus manufacturing plant which will take the brand to the next level of growth trajectory. The plant will have a capacity to produce 10,000 buses when fully operational.
Eicher sales register YTD growth of 7.6%
With the slowdown being witnessed in the commercial vehicles industry, Eicher branded trucks and buses have recorded sales of 3,602 units in July, which is 13.2 per cent lower than the July 2011 sales. However, the YTD 2012 sales of Eicher branded trucks and buses stand at 29,661 units (27,564 units), representing a growth of 7.6 per cent.
In the domestic CV market (5T and above), Eicher branded trucks and buses have recorded sales of 3,492 units in July as compared to 3,935 units in July 2011, representing a drop of 11.3 per cent. However, the YTD 2012 sales stand at 28,177 units (25,852 units), representing a growth of 9 per cent.
In the domestic bus segment, the July 2012 sales stand at 929 units as compared to 895 units in July 2011, representing a 3.8 per cent growth. The YTD 2012 sales stand at 5,755 units (4,293 units), representing a 34 per cent growth on YTD basis. The heavy duty (HD) trucks have recorded sales of 562 units (601 units). The YTD 2012 Eicher HD sales 4,759 units grew 21 per cent as compared to the YTD 2011 sales of 3,932.
VE Commercial Vehicles Ltd. (VECV) is a 50-50 joint venture between the Volvo Group and Eicher Motors Ltd. In operation since July 2008, the company product range covers Eicher branded trucks and buses, VE Powertrain, Eicher’s components and engineering design services businesses as well as the sales and distribution business of Volvo trucks within India.
VECV aims to become a full-range commercial vehicle company whose products will drive modernization in commercial transportation in India and other emerging world markets.