Eicher Motors January auto sales falls 4% YoY to 5,434 units

Eicher Motors' unlisted subsidiary, VE Commercial Vehicles (VECV) sold 5,434 units of commercial vehicles in January 2022, registering a decline of 4.2% on a year-on-year (Y-o-Y) basis from 5,673 units in January 2021.

VECV had sold 6,154 units of commercial vehicles in December 2021. On a sequential basis, the commercial vehicles sales were lower by 11.69% as compared to 6,154 units sold in December 2021.

During January 2022, the total domestic sales of Eicher trucks & buses fell 8.9% to 4,523 units while total exports soared 44.5% to 802 units over January 2021. Sales of total Volvo trucks & buses, stood at 109 units in January 2022, recording a 29.2% fall over 154 units sold in January 2021.

On a consolidated basis, Eicher Motors' net profit jumped 8.7% to Rs 373.20 crore on 4.9% increase in net sales to Rs 2,216.40 crore in Q2 September 2021 over Q2 September 2020.

Shares of Eicher Motors rose 0.60% to Rs 2,658 on BSE. 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.

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