Eicher Motors CV sales declines 18% YoY in April

The vehicles manufacturer's unlisted subsidiary, VE Commercial Vehicles (VECV) reported 18.1% year on year decrease in commercial vehicles (CV) sales to 5,377 units in April 2024.

While, the domestic sales decreased by 20.3% to 4,898 units, total exports jumped 38.5% to 356 units in April 2024 over April 2023.

Total sales of Volvo trucks and buses in April 2024 declined by 26.8% to 123 units from 168 units sold in April 2023.

Further, the company said that it has sold 81,870 motorcycle units in April 2024, which is higher by 12% as compared with 73,136 units in April 2023.

Sales of motorcycle models with engine capacity up to 350cc climbed 13% to 72,866 units and sales of motorcycle models with engine capacity exceeding 350cc increased 7% to 9,004 units in April 2024 over April 2023.

The International Business recorded sales of 6,832 units in April 2024, up by 61% as compared with 4,255 units sold in the corresponding period last year.

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 two wheeler makers consolidated net profit jumped 34.43% to Rs 995.97 crore on 12.3% rise in revenue from operations stood to Rs 4,178.84 crore in Q3 FY24 over Q3 FY23.

The scrip declined 0.32% to currently trade at Rs 4,581.15 on the BSE.

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