Eicher Motors sells 6,038 CV units in October'22

Eicher Motors unlisted subsidiary, VE Commercial Vehicles (VECV) sold 6,038 units of commercial vehicles (CV) in October 2022, registering a rise of 4% year on year from 5,805 units sold in October 2021.

On a sequential basis, the company's CV sales dropped 8.94% from 6,631 units sold in September 2022.

During October 2022, the total domestic sales of Eicher trucks & buses grew 14.2% to 5,555 units while total exports slumped 56.9% to 356 units over October 2021.

Total sales of Volvo trucks & buses rose 9.5% to 127 units in October 2022 as compared with 126 units sold in October 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's consolidated net profit zoomed 157.81% to Rs 611 crore in Q1 FY23 from Rs 237 crore posted in Q1 FY22. Total revenue from operations was recorded at Rs 3,397 crore, up 72% as compared to Rs 1,974 crore in the corresponding quarter of FY 2021-22.

Shares of Eicher Motors declined 1.61% to Rs 3,784.65 on the BSE.

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