Royal Enfield total sales down 26% in July; VECV total sales drop 46%

The auto maker's motorcycle brand Royal Enfield registered total sales of 40,334 units in July 2020, which is 26% lower than 54,185 units sold in the same month last year.

Royal Enfield exports dropped 52% YoY to 2,409 units in July 2020.

Meanwhile, Volvo Eicher Commercial Vehicles (VECV) reported 46% decline in total commercial vehicles sales at 2184 units in July 2020 over July 2019.

Total exports of Eicher brand stood at 401 units in July 2020, down 31%, as compared to 306 units in the same month a year ago.

Sales of Volvo Truck stood at 49 units up 4.3% as compared to 47 units in July 2019.

Shares of Eicher Motors rose 1.95% to 21,040.95. It traded in the range of Rs 20,630.20 and Rs 21,290 so far.

Eicher Motors' consolidated net profit slumped 44.2% to Rs 304.28 crore on 11% drop in net sales to Rs 2,190.32 crore in Q4 March 2020 over Q4 March 2019.

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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