KOLKATA NOV - 18: VE Commercial Vehicles, a 50:50 joint venture between Eicher Motors and Volvo Group, is aiming to capture the number one position in the light-to-medium duty (LMD) trucks segment in terms of market share, an official of the company said. \"Presently, VE\'s market share in the first ten months of the fiscal is 32.6 per cent, 2.5 per cent over the previous comparable period. We expect this to touch 33 per cent by April 2015,\" Sr VP (sales and marketing) of VE Shyam Mallar told PTI.
The largest market share in the segment presently is that of Tata MotorsBSE -1.17 %. \"We are clearly the number two player in the LMD segment and we are slowly inching towards to become the largest player in few years\", he said. Mallar said the company had invested around Rs 2,500 crore in setting up manufacturing facilities near Indore for trucks and buses. The company recently launched a new range of LMD trucks. \"With the launch of new range of trucks, the company\'s market share will shore up gradually,\" he said.
The company was also present in the mini bus segment, he said, adding VE had got orders from Bihar to supply 560 buses under JNNURM scheme and 75 buses to Indore transport body. VE is also manufacturing heavy duty trucks, which according to him, was the highest growing segment in the last five months.