Eicher Motors slips as VECV sales slump in March

Eicher Motors fell 1.38% to Rs 12906 after 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.

VECV's total domestic sales tanked 80.8% to 1,409 units in March 2020 compared with 7,329 units in March 2019. Total exports crashed 94.5% to 67 units in March 2020 as against 1,216 units in March 2019.

Sales of Volvo Trucks tumbled 82.4% to 23 units in March 2020 compared with 131 units in March 2019.

On a month-on-month basis, VECV's total sales declined 67.31% in March 2020 from 4586 units in February 2020.

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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