Eicher Motors Limited has informed the Exchange regarding Monthly Business Updates for the month of July 2025 of VE Commercial Vehicles Limited, an unlisted material subsidiary of Eicher Motors Limited
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Eicher Motors shared July 2025 sales numbers for its unlisted subsidiary VECV. Total VECV volumes (including EVs) rose 7.4% year-on-year to 7,115 units, up from 6,622 units last year. Domestic sales grew 6.1% to 6,410 units, led by small commercial vehicles/light-medium trucks (up 8%) and heavy-duty trucks (up 12.6%). Exports surged 32.5% YoY to 530 units, with strong growth across LMD (+33.9%), HD (+23.4%), and bus (+36.9%) segments. Year-to-date FY26, total VECV volumes are up 9.1% at 28,725 units. Weak spots include HD Bus domestic sales falling 12.4% and Volvo Trucks declining 1.7% month-on-month.
Broad-based growth across most segments, especially a sharp jump in exports, is a positive sign for the subsidiary's earnings. The small decline in HD buses and Volvo Trucks is a minor concern but doesn't offset the overall strong momentum.