Eicher Motors motorcycle sales rise 6% YoY in Nov

Total sales of Royal Enfield motorcycle rose 6% to 63,782 units in November 2020 from 60,411 units in November 2019.

Sequentially, total motorcycles sales slipped 4.64% in November 2020 from 66,891 units sold in October 2020.

While the sales of models with engine capacity upto 350cc increased 2% to 57,418 units, the sales of models with engine capacity exceeding 350cc surged 51% to 6,364 units in November 2020 over November 2019.

Total exports soared 122% to 4,698 units in November 2020 from 2,119 units in November 2019. The announcement was made after market hours yesterday, 1 December 2020.

Meanwhile, VE Commercial Vehicles, an unlisted subsidiary of Eicher Motors, on Tuesday announced that its total commercial vehicles (CV) sales rose 3.2% to 3,710 units in November 2020 from 3,592 units in November 2019. Sequentially, total CV sales dropped 11.66% last month from 4,200 units sold in October 2020. While total domestic sales expanded by 4.7% to 3,088 units, total exports contracted 5.8% to 473 units in November 2020 over November 2019.

Eicher Motors' consolidated net profit dropped 40% to Rs 343.34 crore on 2.7% decrease in net sales to Rs 2,111.98 crore in Q2 September 2020 over Q2 September 2019.

Shares of Eicher Motors lost 0.29% to Rs 2,525.90.

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 (VECV) which operates in India's commercial vehicle space.

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