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HomeAutoVECV forecasts vehicle price inflation of up to 5% with onset of...

VECV forecasts vehicle price inflation of up to 5% with onset of new emission rules

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The prices of VE Commercial Vehicles’ (VECV) models are anticipated to increase by up to 5% as a result of the country’s implementation of tighter emission standards in April of this year. VECV is a joint venture between the Volvo Group and Eicher Motors. VECV sells a variety of buses with seating capacities ranging from 12-72 spanning light, medium, and heavy-duty applications, as well as a range of trucks with GVWs ranging from 4.9 to 55 tonnes.

At an analyst call, VECV MD & CEO Vinod Aggarwal stated, “As far as the cost rise is concerned, it is not going to be like the prior BS IV to BS VI (transition), it would be much lower than that, which should be within, I suppose 3 to 5%.”

He was responding to a question on the company’s plans for updating its model lineup to comply with new emission standards that go into effect on April 1 of this year.

“A gradual transition to a new model will take place in Q4FY23. Moreover, we’ll switch completely to OBD-2 (on-board diagnostics) by April 1 “added Aggarwal.

The second phase of Bharat Stage VI, which is similar to Euro-VI emission requirements, is what the Indian car industry is now aiming to achieve with its models.

To fulfil the new emission regulations, four-wheeled passenger and commercial vehicles will require more advanced technology to be incorporated. To track the levels of driving emissions in real time, vehicles must include an on-board self-diagnostic system.

In order to maintain a careful eye on emissions, the gadget will continuously check important components for compliance with emission requirements, such as the catalytic converter and oxygen sensors.

As the emissions go over the limits, the system will signal through warning lights that the vehicle needs to be serviced.

With effect from April 1, 2020, India jumped from the BS-IV emission regime to the BS-VI emission regime. The domestic car sector invested close to Rs 70,000 crore during the changeover to modernise its technologies.

When asked if the business planned to increase inventory in advance of pre-sales, Aggarwal responded: “We won’t probably make any inventory only to get this benefit, in my opinion. There isn’t such a scheme. Furthermore, I don’t believe that a shortage of manufacturing would harm us because many of our models will switch to OBD-II before that happens. So, there is no cause for fear regarding manufacturing as we stockpile OBD-II. No cause for alarm is apparent.”

According to Aggarwal, the business sold 18,162 units overall in the third quarter of current fiscal year, increasing 13.2% from 16,044 units in the same period of 2021–22.

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Aradhya
Aradhyahttp://thevocalnews.com
Aaradhya is working as a Sub-Editor at The Vocal News. She enjoys writing about gadgets and automobiles because she is a tech and automotive fanatic. She has done her bachelors in Journalism and Mass communication from Makhanlal Chaturvedi Rashtriya Patrakarita Vishwavidyalaya. "I write to discover what I know."
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