VECV Projects Single-Digit CV Market Growth in FY26

VE Commercial Vehicles (VECV), a joint venture between Eicher Motors and Volvo Group, is forecasting a single-digit growth in India’s commercial vehicle (CV) market for the financial year 2025-26 (FY26). This comes after a relatively flat year in FY25, where multiple factors such as general elections, policy uncertainty, and muted infrastructure spending slowed down the sector’s momentum.

What's Behind the Cautious Outlook?

The commercial vehicle market, especially the heavy-duty segment, tends to follow the broader economic trends and with elections out of the way by mid-FY26, the industry hopes for a rebound in government spending and infrastructure projects. However, VECV is keeping its expectations realistic. The company sees a possible 3-5% growth in volumes, in line with market estimates, but not a sharp rebound.

Fleet owners are still recovering from the demand shocks of the pandemic and are looking at more efficient and future-ready vehicles before making major buying decisions.

Focus on the Right Segments

VECV isn’t just sitting back and waiting. The company has been expanding its product portfolio, especially in the small commercial vehicle (SCV) segment, which plays a big role in last-mile delivery and intra-city logistics. With e-commerce and urban logistics continuing to grow, this part of the market offers significant opportunities.

Earlier this year, VECV made headlines by launching its Eicher Pro X range, marking its official entry into the SCV space. These vehicles, some of which are electric, are designed for short-range, high-efficiency usage perfect for city-based transport and delivery operators.

A Shift Toward Cleaner, Smarter Vehicles

In addition to expanding its product range, VECV is betting big on alternative fuel technologies. From CNG and LNG models to fully electric vehicles, the company is preparing to meet rising demand for cleaner transportation.

It’s also pushing forward on the tech front, offering connected solutions that help fleet operators track, maintain, and optimize their vehicles in real time. In a competitive VE commercial vehicle market, these smart features could make all the difference.

Looking Ahead

Even if the commercial market grows slowly in FY26, VECV seems well-positioned to ride out the volatility. By focusing on fuel efficiency, sustainability, and customer-centric features across its VECV segment, the company is preparing for a future where commercial vehicles aren’t just about load capacity but also about performance, data, and eco-friendliness.

In summary, while the numbers may be modest in the short term, VECV is laying the groundwork for a stronger, cleaner, and smarter commercial vehicle future.

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