A truck joint venture between Volvo and Eicher Motors posted a large fall in sales last month, reflecting the ongoing reluctance of Indian firms to replace commercial vehicles in a flagging economy.

VE Commercial Vehicles said sales of its Eicher brand plunged 58.27% year on year to 940 units from 2,253 in January 2008.

Exports fell 41.8% to 121 units and domestic sales fell 60% to 819 units, the JV said in a statement.