Eicher Motors says Royal Enfield sales decline 41% in March

Eicher Motors on Wednesday, 1 April 2020, said its total two-wheeler (Royal Enfield) sales declined 41% to 35,814 units in March 2020 as against 60,831 units in March 2019.

On a month-on-month basis, total Royal Enfield sales declined 43.63% in March 2020 from 63,536 units in February 2020.

Total two-wheeler exports jumped 33% to 3,184 units in March 2020 compared with 2,397 units in March 2019.

Royal Enfield suspended its production from 23 March 2020 owing to the spread of COVID-19. As per the latest directive from the government all local manufacturing and sales operations will remain closed until 14 April 2020.

Meanwhile, the company has successfully cleared all its inventory of BS IV motorcycles across channels and dealerships by 20 March 2020.

Meanwhile, Eicher Motors' unlisted subsidiary VE Commercial Vehicles (VECV) reported 82.7% decline in total sales to 1,499 units in March 2020 from 8,676 units in March 2019.

Shares of Eicher Motors fell 1.86% at Rs 12758.85. Meanwhile, the S&P BSE Sensex was down 1.11% to 27,950.97.

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. VECV has a complete range of trucks and buses from 5-55 tonnes, and its integrated manufacturing plant in Pithampur, Madhya Pradesh is the global hub for medium duty five- and eight-litre engines for Volvo Group.

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