Staff Writer
Gurgaon: VE Commercial Vehicles (VECV), the joint venture between Volvo Group and Eicher Motors, reported a robust performance in February 2026, registering healthy growth across key segments and a sharp rise in exports during the financial year so far.
The company sold 9,986 units in February 2026, marking a 23.4 percent increase over 8,092 units sold in February 2025. For the year-to-date period of FY26, total sales stood at 90,184 units, up 15.5 percent compared to 78,067 units in the corresponding period last year.
Total Eicher Trucks and Buses, including electric vehicles, recorded sales of 9,766 units in February, reflecting a 23.5 percent year-on-year growth. Cumulative sales for FY26 reached 87,658 units, a rise of 15.6 percent over 75,872 units in the previous fiscal.
In the domestic market, Eicher’s performance was driven by strong demand in the truck segments. Sales of small commercial vehicles and light and medium-duty trucks under 18.5 tonnes rose sharply to 4,947 units in February, up 41.3 percent from 3,500 units a year ago. Heavy-duty trucks of 18.5 tonnes and above also saw impressive growth, climbing 54.1 percent to 2,588 units compared to 1,679 units last February.
However, the bus segments witnessed a decline. Light and medium-duty bus sales fell 21.4 percent to 1,537 units, while heavy-duty bus volumes dropped 58.3 percent to 93 units during the month. Overall domestic sales stood at 9,165 units in February, registering a 24.6 percent growth over 7,357 units in the same month last year. On a year-to-date basis, domestic volumes reached 81,341 units, up 14 percent from 71,356 units.
Exports continued to be a major growth driver for VECV. Total exports rose 8.9 percent in February to 601 units, compared to 552 units in the year-ago month. For FY26 so far, exports surged 46.5 percent to 6,617 units against 4,516 units last year.
Within exports, the heavy-duty segment posted exceptional growth. Heavy-duty truck exports jumped 207.1 percent in February to 43 units, while cumulative exports in this category rose 126.6 percent to 877 units. Small commercial and light and medium-duty exports also grew 25.5 percent in February and 36.1 percent year-to-date. Bus exports, though down 23.3 percent in February at 184 units, recorded a strong 45.6 percent growth for the fiscal at 1,869 units.
Meanwhile, the Volvo Trucks and bus business posted sales of 220 units in February, up 20.2 percent from 183 units a year ago. Year-to-date volumes for the Volvo segment stood at 2,226 units, marginally higher by 1.4 percent compared to 2,195 units in the previous fiscal period.
The overall performance indicates sustained demand in the truck segment, particularly in heavy-duty categories, along with expanding international traction. While the domestic bus segment remains under pressure, strong export momentum and steady growth in core truck categories have helped VECV maintain a solid growth trajectory in FY26 so far.
