Eicher Motors: VECV May 2025 Sales Up 7.3% YoY, Exports Surge Over 20%
By HDFC SKY | Updated at: Jun 1, 2025 05:52 PM IST
Gurugram, June 1, 2025 – Eicher Motors Ltd (NSE: EICHERMOT) reported robust sales data for its unlisted subsidiary VE Commercial Vehicles (VECV) for May 2025, with total volumes growing 7.3% year-on-year to 7,402 units, compared to 6,901 units in May 2024. Year-to-date (YTD) volumes for FY26 stood at 14,248 units, reflecting a strong 16.0% increase over the same period in FY25.
Key Segment-Wise Highlights
| Segment | May 2025 | May 2024 | YoY Growth | FY26 YTD | FY25 YTD | YTD Growth |
|---|---|---|---|---|---|---|
| Total Eicher Trucks & Buses | 7,258 | 6,719 | 8.0% | 13,975 | 11,973 | 16.7% |
| Domestic SCV/LMD Trucks (<18.5T) | 3,236 | 2,809 | 15.2% | 5,986 | 5,073 | 18.0% |
| Domestic HD Trucks (≥18.5T) | 1,502 | 1,635 | -8.1% | 2,821 | 2,898 | -2.7% |
| Domestic LMD Bus | 1,882 | 1,718 | 9.5% | 3,907 | 2,971 | 31.5% |
| Domestic HD Bus | 138 | 142 | -2.8% | 301 | 260 | 15.8% |
| Total Domestic | 6,758 | 6,304 | 7.2% | 13,015 | 11,202 | 16.2% |
| VECV Exports | 501 | 415 | 20.7% | 961 | 771 | 24.6% |
| — LMD | 289 | 267 | 8.2% | 587 | 404 | 45.3% |
| — HD | 93 | 15 | 520.0% | 131 | 40 | 227.5% |
| — Bus | 119 | 133 | -10.5% | 243 | 327 | -25.7% |
| Volvo Trucks & Buses | 144 | 182 | -20.9% | 273 | 305 | -10.5% |
| Total VECV (incl. EVs) | 7,402 | 6,901 | 7.3% | 14,248 | 12,278 | 16.0% |
Performance Insights
- Domestic Market: Growth was led by small and light-duty trucks (SCV/LMD) with a 15.2% YoY rise, while the heavy-duty segment (HD trucks) declined 8.1%. Buses performed positively, especially the LMD segment, which grew 9.5% YoY.
- Exports: VECV’s international business saw a 20.7% YoY surge, driven by a massive 520% jump in heavy-duty exports. However, bus exports declined 10.5%.
- Volvo Trucks and Buses: Registered a decline of 20.9% YoY, contributing to a modest drag on overall growth.
YTD Snapshot (April–May 2025)
VECV has started FY26 on a strong note, delivering 16% growth in total volumes. The standout performer was the export HD segment, which clocked a 227.5% growth, indicating strengthening overseas traction.
Outlook
With strong momentum in domestic LMD buses and SCV trucks, coupled with exponential export HD gains, VECV appears well-positioned to benefit from infrastructure investments and a recovering global freight demand. However, continued weakness in HD domestic trucks and Volvo’s performance could remain areas to watch.
REF:https://nsearchives.nseindia.com/corporate/Navneetnse_01062025113827_VECVMay25salesUpdate1stJune25Updated_Signed.pdf
Disclaimer: At HDFC SKY, we take utmost care and due diligence in curating and presenting news and market-related content. Every effort is made to ensure the accuracy, relevance, and timeliness of the information provided. However, inadvertent errors or omissions may occasionally occur.
Should you have any concerns, queries, or wish to point out any discrepancies in our content, please write to us at content@hdfcsec.com. Your feedback is valuable and helps us maintain the highest standards of content integrity.
Please note that the information shared is intended solely for informational purposes and should not be construed as investment advice. Users are advised to consult their financial advisors before making any investment decisions.
