NEW DELHI: Commercial vehicle (CV) maker Volvo Eicher Commercial Vehicles (VECV) said on Wednesday that demand for CVs may revive from September-October this year even as the segment reported a 85 per cent decline in sales during the first quarter of financial year 2020-21.
Vinod Aggarwal, Managing Director and CEO, VECV said, “This year is going to be tough but next year onwards it will be much better. We see a revival in demand starting September-October this year.” Aggarwal added that the company’s plants were currently operating at a 25-30 per cent level due to poor demand and that the introduction of the incentive-based scrappage policy could help in the revival of the commercial vehicle segment.
Hit hard by the Covid-19 pandemic-led economic slowdown, CV sales are expected to witness a record slump this year. The company also announced that its entire range of CVs now come with connected technology. From August 1, the trucks and buses built on its EUTECH6 platform will be equipped with pre-fitted hardware that would enable them to be completely connected while on the road.
VECV said there were no extra costs associated with this technology. The services will be free for the first two years and post that, nominal charges of around Rs 5,000 per annum would be charged, the company said. Aggarwal added, “These offerings will not only reduce the operational cost by maximising fuel efficiency but will also increase revenue through improved asset utilisation with superior uptime...Large fleet customers who have high demands of fuel efficiency, safety and driving behaviour as critical elements will be able to maximise their productivity and profitability.”