Eicher Motors February VECV sales rose 7.3% YoY to 5856 units

Eicher Motors' unlisted subsidiary, VE Commercial Vehicles (VECV) sold 5,856 units of commercial vehicles in February 2022, registering a rise of 7.3% year on year from 5,457 units in February 2021.

During February 2022, the total domestic sales of Eicher trucks & buses rose 5.6% to 5,093 units while total exports jumped 27.8% to 652 units over February 2021. Sales of total Volvo trucks & buses, stood at 111 units in February 2022, recording a 9% fall over 122 units sold in February 2021.

Eicher Motors is the listed parent of Royal Enfield, the global leader in middleweight motorcycles. In addition to motorcycles, Eicher has a joint venture with Sweden's AB Volvo - Volvo Eicher Commercial Vehicles which operates in India's commercial vehicle space.

The company recorded 14% fall in consolidated net profit to Rs 456 crore despite a 1.9% rise in total revenues to Rs 2,881 crore in Q3 FY22 over Q3 FY21.

Shares of Eicher Motors ended 1.55% lower at Rs 2,586.35 on Monday. The domestic stock market will remain shut today, 1 March 2022, on account of Mahashivratri.

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