VECV sales rise 7.8% to 7,978 units in May 2026

VE Commercial Vehicles, an unlisted subsidiary of eicher motors , reported a 7.8% increase in total sales volume for May 2026, reaching 7,978 units compared to 7,401 units in May 2025. The growth was primarily driven by domestic demand, which rose 9.1% to 7,375 units, offsetting a 17.2% decline in exports. Year-to-date sales for the fiscal year 2026-27 stood at 15,296 units, up 7.4% from 14,247 units in the corresponding period of the previous fiscal year.

Domestic Sales Performance

Domestic sales of Eicher trucks and buses, including electric vehicles, totaled 7,375 units in May 2026, up from 6,758 units in the prior year. The SCV and LMD truck segment (under 18.5T) led the growth with a 16.1% increase to 3,757 units, while HD trucks (18.5T and above) grew 7.9% to 1,620 units. The LMD bus segment remained flat at 1,886 units, whereas HD bus sales fell 17.6% to 112 units.

Export Trends

Exports faced significant headwinds, dropping 17.2% to 414 units in May 2026 from 500 units a year earlier. The SCV and LMD segment declined 11.4% to 256 units, while bus exports plummeted 69.5% to 36 units. However, HD exports showed resilience, surging 31.2% to 122 units. Year-to-date exports fell 19.2% to 776 units.

Volvo Trucks and Buses

Sales of Volvo trucks and buses, part of the VECV portfolio, grew 32.2% to 189 units in May 2026 from 143 units in May 2025. The year-to-date sales for this segment reached 348 units, a 27.9% increase over the same period last year.

Segment	Actual May'26	Actual May'25	Growth (%)	Actual 2026-27	Actual 2025-26	Growth (%)
Total Eicher Trucks and Buses	7,789	7,258	7.3%	14,948	13,975	7.0%
SCV/ LMD Trucks (< 18.5T)	3,757	3,236	16.1%	7,000	5,986	16.9%
HD Trucks (≥18.5T)	1,620	1,502	7.9%	3,136	2,821	11.2%
LMD Bus	1,886	1,884	0.1%	3,862	3,910	-1.2%
HD Bus	112	136	-17.6%	174	298	-41.6%
Total Domestic	7,375	6,758	9.1%	14,172	13,015	8.9%
Total Exports	414	500	-17.2%	776	960	-19.2%
Total Volvo Trucks & Buses	189	143	32.2%	348	272	27.9%
Total VECV (Inclusive of EVs)	7,978	7,401	7.8%	15,296	14,247	7.4%

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-0.28%	-4.16%	+0.01%	+0.40%	+32.80%	+156.89%

Eicher Motors reported total motorcycle sales of 1,03,231 units in May 2026, registering a 15% year-on-year growth from 89,429 units in the same period last year. The company maintained its growth momentum in the first quarter of FY27 despite macro-headwinds, driven by a 24% surge in domestic volumes which reached 94,115 units. However, international business declined by 33% to 9,116 units during the month, impacting the overall performance against market expectations.

Sales Performance Breakdown

The following table details Eicher Motors' motorcycle sales performance for May 2026 compared to the prior year:

Particulars	May-26 (Units)	May-25 (Units)	% Change
Models up to 350cc	90,784	76,492	19%
Models exceeding 350cc	12,447	12,937	-4%
Domestic	94,115	75,820	24%
Exports	9,116	13,609	-33%
Total	1,03,231	89,429	15%

Strategic Developments

B. Govindarajan, Managing Director of Eicher Motors and CEO of Royal Enfield, attributed the performance to continued growth in Q1 and a strengthened product portfolio. The company launched the Bullet 650 in India and international markets, expanding its 650cc portfolio. Additionally, Royal Enfield announced a strategic manufacturing expansion in Andhra Pradesh with a planned investment of approximately ₹2,500 crore to support long-term growth.

Year-to-Date Performance

For the period April to May 2026, total sales stood at 2,16,395 units, a 23% increase over the 1,75,988 units sold in the corresponding period of the previous year. Domestic sales grew by 31% year-on-year to 1,98,244 units, while exports fell by 25% to 18,151 units.