Tuesday, December 1, 2015

'Worst recession for the CV industry is over',Vinod Aggarwal, CEO, VE Commercial Vehicles

VE Commercial Vehicles (VECV), a joint venture between Sweden's Volvo Group and Eicher Motors, is eyeing for double-digit market share in the heavy duty truck segment.

It introduced three new products in Pro 6000 and 8000 category catering to mining and construction verticals at recently concluded Excon 2015. Speaking at EXCON 2015 on the opportunity from mining and construction projects and industry growth,  Vinod, Aggarwal, CEO, VE Commercial Vehicles said, “The worst recession for the commercial vehicle industry is behind us now.All segments of Commercial Vehicle industry are already growing except trucks used in construction sites. As we move forward, a lot more growth is expected to come from demand from two sectors- Mining and Construction."Operational since July 2008, VE Commercial Vehicles Ltd. (VECV) comprises of five business verticals – Eicher Trucks and Buses, Volvo Trucks India, Eicher Engineering Components and VE Powertrain. VECV includes the complete range of Eicher's commercial vehicles, components and engineering design businesses as well as the sales and distribution of Volvo trucks. Each of its 'business units is already well established and backed by a sizable customer base.'I am confident that VECV continues to grow stronger with the introduction of the new range,'said Pierre Jean Verge Salamon, President of Volvo Group Trucks India.