Eicher Motors July sales: Total sales up 32% YoY, global business down 22%

Eicher Motors registered a 32 per cent year-on-year (YoY) growth in its total sales for July 2023 as the company sold 73,117 units, compared to 55,555 units in July 2022, the company said in a BSE filing.

Sales for the company in up to 350cc segment vehicles went up by 39 per cent YoY as the volumes grew from 46,336 in July 2022 to 64,398 in July 2023.

In the above 350cc engine capacity segment, sales went down 5 per cent as the company sold 8,719 units in July 2023, compared to 9,219 units in July 2022.

International business for the company took a hit and went down by 22 per cent to end at 27,590 units in July 2023 from 38,589 units in July 2022.

Total year-to-date sales for the period April-July 2023 stood at 300,823 units which was up 24 per cent from 242,760 for the same period last year.

Eicher commands the premium bike market in the country with its iconic Royal Enfield motorcycles. Local bike manufacturers, Hero Moto Corp and Bajaj Auto have partnered with Harley Davidson and Triumph respectively to offer products that can compete with Royal Enfield in the Indian motorcycle market.

To this end, Hero-Harley launched Harley Davidson X440 and Bajaj-Triumph launched the Speed 400 in the Indian market. As the launches were announced, shares of Eicher Motors took a hit in the stock markets.