Eicher Motors records 44% drop in Septemeber motorcycle sales

Eicher Motors said that the total motorcycles sales declined 44% to 33,529 units in September 2021 from 60,331 units in September 2020.

The company's total motorcycles for the month of September are lower by 27% as compared with 45,860 units sold in August 2021.

While sales of models with engine capacity upto 350cc fell by 53% to 25,520 units, sales of models with engine capacity exceeding 350cc increased by 36% to 8,009 units in September 2021 over September 2021.

Exports rose by 52% YoY to 6,296 units during the period under review. The company had exported 4,131 units in the same period last year.

"The ongoing global shortage of semiconductor chips and the recent lockdown in certain source markets has impacted volumes for September. The situation improved towards the end of September, and availability of parts is expected to start scaling up from Q3 FY2022," the company said in a statement.

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 had reported a consolidated net profit of Rs 237.13 crore in Q1 FY22 compared with net loss of Rs 55.18 crore in Q1 FY21. Net sales was recorded at Rs 1,942.84 crore, up 140.1% compared with Rs 809.16 crore in the corresponding quarter of FY 2020-21.

The scrip shed 0.67% to end at Rs 2773.25 on the BSE on Friday.

Powered by Capital Market - Live News