Eicher Motors Records 4% Decline In Royal Enfield Sales During September; VECV Sales Rise

Eicher Motors witnessed a 4% decline in the sales of Royal Enfield to the tune of 78,580 units in September 2023, compared to 82,097 units sold a year ago same month. On the other hand, the company's commercial vehicle sales jumped 8.6% YoY to 7,198 units in the month under review.

As per the regulatory filing, Royal Enfield models with engine capacity up to 350cc witnessed sales of 70,345 units in September 2023, down by 5%, on the contrary, models with engine capacity exceeding 350cc saw a surge of 4% in sales to 8,235 units as against 7,891 units in September 2023.

In the international market, the company's Royal Enfield sales nearly halved to 4,319 units in September 2023, declining by 49% from 8,451 units sold in September 2022.

Meanwhile, in the case of commercial vehicles, Eicher Motors' VECV sales stood at 7,198 units in September 2023, as against sales of 6,631 units in September of last year. Domestic sales here increased by 12.1% YoY to 6,715 units, but exports declined by a massive 50.6% YoY to 250 units.

In the first six months of FY24, the company sold 4,56,986 Royal Enfields in the domestic market, rising by 16% YoY, however, exports declined by 26% YoY to 40,099 units.

While VECV sales in H1FY24 stood at 39,122 units, rising by 11.5% from 35,085 units sold in the corresponding period of the previous year.

Last week, on Friday, Eicher Motors share price stood at Rs 3456.05 apiece, up by Rs 9.05 or 0.3% on BSE.