Eicher Motors two-wheeler sales grow 8% YoY in Jan

Total Royal Enfield sales jumped 8% to 68,887 units in January 2021 as against 63,520 units in January 2020.

Sequentially, total motorcycles sales fell 0.15% in January 2021 from 68,995 units in December 2020.

While the sales of models with engine capacity upto 350cc jumped 9% to 64,248 units, the sales of models with engine capacity exceeding 350cc rose 7% to 4,639 units in January 2021 over January 2020.

Royal Enfield exports soared 103% to 4,515 units in January 2021 as against 2,228 units in January 2020. The announcement was made post trading hours yesterday, 1 February 2021.

Eicher Motors yesterday announced that VE Commercial Vehicles (VECV)'s total sales volume improved 2.3% to 5,673 units in January 2021 from 5,544 units in January 2020. Sequentially, total sales rose15.9% from 4,892 units sold in December 2020.

VECV is an unlisted subsidiary of Eicher Motors. While VECV's domestic sales increased by 1.9% to 4,964 units, exports jumped 7.4% to 555 units in January 2021 over January 2020. However, total sales of Volvo trucks & buses declined by 1.3% 154 units during the month from 156 units sold in the same period last year.

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.

Eicher Motors rose 0.60% to Rs 2,861.05 on BSE. 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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