New Delhi: Auto maker VE Commercial Vehicles on reported 6.06 per cent growth by selling 3,341 units of its Eicher branded products in July.
The company, which is a 50:50 joint venture between the Volvo Group and Eicher Motors, had sold 3,150 units in the same month last year.
Domestic sales registered a marginal increase of 1.37 per cent to 2,955 units last month, as against 2,915 units in the same month a year ago, VE Commercial Vehicles, informed the BSE.
On the exports front, Eicher trucks and buses sales jumped 64.3 per cent to 386 units last month, as against 235 units in July 2013, the company added.--PTI
Pithampur (Madhya Pradesh), Dec 2 : Eicher Motors Monday unveiled 11 new products, both trucks and buses, in "Eicher Pro" series and the company plans to invest Rs. 700 crore more by 2014, Vinod Aggarwal, chief executive officer, VE Commercial Vehicles, said here.
"We have 11 new products on display, which we will start rolling out from February 2014. In the next 18 months all the products will be on road in a phased manner," he told reporters after unveiling the products.
He said the prices will be determined at the time of the launch.
Eicher Motors recorded a fall of 10.6 per cent in its net profit to Rs. 97.94 crore during the first quarter of the year from January to March, 2013.
The company said that its net sales recorded a growth of 3.2 per cent to Rs. 1708.60 crore during the first quarter compared to the same quarter of the previous year. The company announced the results for the quarter after market hours on Monday, 13 May 2013. It said that total sales fell 12.3 per cent to 12,529 units during the quarter.
Chennai, April 30 : Automobile maker Eicher Motors Ltd plans to increase its two-wheeler production capacity to 250,000 units in its second phase of expansion, a top company official said Tuesday.
The company expects the waiting time for its Bullet range of motorcycles to reduce with the commissioning of the Rs. 150 crore plant at Oragadam near here, managing director and CEO Siddartha Lal told reporters here.
Speaking about the Oragadam plant, Lal said: "The plant will initially roll out 150,000 units and production will be ramped up to 175,000 units by the end of this year."
Heavy-vehicles manufacturer Volvo recently announced that it would invest Rs 3,800 crore in India in the next few years.
Of the total investment, Rs 1,800 crore would go to the Swedish vehicle maker's joint venture (JV) with Eicher Motors, while the remaining amount would be invested towards improving its own operations.
Volvo, one of the leading manufacturers of truck, bus and earth-moving equipments in the world, has a 50:50 JV with Eicher Motors. The JV, called VE Commercial Vehicles, produces the Volvo-branded of trucks and Eicher brands of trucks and buses.
Commercial vehicle maker, Eicher Motors is planning to enter into partnership with US-based Polaris Industries to offer personal vehicles.
The two companies will enter the vehicle segment through a 50-50 joint venture. The companies will invest about Rs 250 crore over the next three years in the joint venture. The Eicher-Polaris Joint venture will set up a manufacturing facility in the country.
Tamil Nadu Chief Minister Jayalalithaa signed MoU with give different companies to speed up the process of setting up production facities near Chennai. Considered as auto hub of India, Chennai will greatly benefit from the current move.
Ashok Leyland-Nissan Motor Company joint venture will invest nearly Rs 4500 crore to setup commercial vehicle manufacturing facility. Yamaha will have its biggest facility in Chennai to manufacture scooters.
Eicher Motors announced that, Chief Minister Jayalalitaa have officially allotted them 50-acreland for construction plant for its two-wheeler division, Royal Enfield, at the Oragadam SIPCOT Industrial Park, near Chennai and they are expecting that within 5 years this plant will earn them a profit of Rs 350 crores.
Eicher Motors, Managing Director and CEO Siddhartha Lal adds, " By the first quarter of 2013 , the plant will get ready and the new facility will have an initial installed capacity of 1.5 lakh units per annum, which could be expanded, depending upon demand”.
Eicher Motors along with Sweden's Volvo announced on Friday that they are going to invest Rs. 2.9 billion for raising their production capacities.
The money will be infused into the Pithampur plant in Madhya Pradesh. The unit currently has a huge line of engineers which is going to be used for producing 85,000 engines per year after this investment. It now produces 40,000 engines every year.
Eicher makes VE commercial vehicles. The plans are also that the unit would be used as the global manufacturing hub for Volvo.