Volvo Group and Eicher Motors' joint venture VE Commercial Vehicles has said vehicle financing for small buyers continues to be a cause of concern despite some improvement after various steps taken by the government recently.
The joint venture on Tuesday unveiled its entire BS-VI range of trucks and buses here.
VE Commercial Ltd's products range comprises 4.9-55 tonnes trucks besides buses. It displayed its first BS-VI-compliant Pro2000 series truck model in June last year.
The deliveries of the BS-VI vehicles have already started in select markets and the entire new product range will be available pan-India starting this month onward, the company said.
"We see some improvement (in retail) financing, but still that again continues to be a cause of concern. People who have 4-5 vehicles are not getting financing (for purchasing a truck) or they will not finance a dealer unless they are assured that this truck will get registered," VE Commercial Ltd MD and CEO Vinod Aggarwal said at the unveiling of the new range, which took place at the company's Pithamoura manufacturing facility here.
Stating that pre-buying of BS-IV vehicles did not happen ahead of the implementation of the emission norms from April 1, Aggarwal said the vehicle financers are worried about the return of their money if the vehicle did not get registered. He said whatever buying is happening that is only by the big fleet operators who are negotiating (pricing) very hard and that is the other downside.
Because of this the pricing has taken a big hit, he added.
More From This Section
There is tremendous competition in the market with discounts continue to be even higher or increasing in some cases, Aggarwal said.
The company also launched its innovative BS-VI solution, EUTECH6, which offers higher fuel-efficiency and improved productivity.
The upgrade of the product portfolio to BS-VI is in line with the company's vision to modernise trucks as well as the country's transportation sector, Aggarwal said.
"The Eicher Motors' new BS-VI offering takes a lead in providing the most comprehensive and innovative solution for our customers. Our efficient and reliable BS-VI engine technology is backed by over six years of experience of supplying Euro VI base engines to the Volvo Group.
"Coupled with this, our new Uptime solution, an additional support service, is aimed at ensuring a differentiated after-sales experience for our customers," he said.
The EUTECH6 solution will not only reduce fuel costs but will significantly improve productivity for Eicher customers with new uptime solutions, he added.
It offers unique mix of Euro VI base engine expertise, technological edge and uptime solutions.
"Our extensive competence development programme for technicians in our dealer network and for drivers of our customers will ensure seamless transition to BS-VI across the country," Aggarwal said.
Uptime Centre will offer service support with a team of diagnostic experts offering remote and predictive diagnostics and specialised field support to all BS-VI Eicher vehicles, which is in addition to the 24x7 Eicher On-Road Service (EOS) to provide highway assistance across the country.
Disclaimer: No Business Standard Journalist was involved in creation of this content
