VECV Nears Rs 26,000 Crore Turnover as Leadership Baton Passes

 Volvo Eicher Commercial Vehicles (VECV) is set to close the last fiscal year with a turnover of approximately Rs 26,000 crore, reflecting robust growth from Rs 23,548 crore in FY25. The milestone coincides with a major leadership transition at the company.

Strong Financial Performance

VECV has demonstrated consistent growth since its inception in 2008 when turnover was around Rs 2,000 crore. In FY26, the company expects:

• Revenue: ~Rs 26,000 crore
• Units Sold: Over 1,03,000 trucks and buses, surpassing the 1 lakh unit mark for the first time

The company has maintained market leadership in LMD trucks, a strong position in buses (Eicher and Volvo brands), and nearly 10% market share in HD trucks. Its components and engines business is also expanding steadily.

Leadership Transition

Vinod Aggarwal, who served as MD & CEO for sixteen years, stepped down effective April 1, 2026. He has assumed the role of Chairman of the Board at VECV and Vice Chairman of Eicher Motors Ltd.

B. Srinivas, previously Chief Operating Officer since 2024, has been appointed Managing Director and CEO. Srinivas has a long history with Eicher, joining in 1994 as a deputy manager in product development. His previous roles include:

• Head of Product Strategy & Purchasing (2022–2024)
• Head of Eicher bus business (2018–2022)

Future Outlook

With a strong foundation in trucks, buses, and commercial vehicle components, VECV is well-positioned for further growth. The leadership handover ensures continuity in strategy while pursuing higher market penetration across India’s commercial vehicle segments.