Eicher Motors declines after motorcycle sales fall 8% YoY in July'24

Eicher Motors slipped 3.40% to Rs 4,800.05 after the company reported total motorcycle sales of 67,265 units in July 2024, which is lower by 8% as compared with the same period last year.

The company had registered sales of 73,117 units in July 2023.

While the sales of models with engine capacity upto 350cc declined by 12% to 56,590 units, sales of models with engine capacity exceeding 350cc increased by 22% to 10,675 units in July 2024 as compared with July 2023.

International Business division recorded sales 6,057 units in July 2024, down 14% on YoY basis.

Eicher Motors unlisted subsidiary VE Commercial Vehicles (VECV) recorded total sales of 6,622 units in July 2024, which is higher 12.7% as compared with the sales of 5,877 units sold in July 2023.

VECVs total domestic and export sales during the period under review amounted to 6,044 units (up 13.8% YoY) and 400 units (down 5.9% YoY), respectively.

Volvo Trucks & Buses sales aggregated to 178 units in July 2024, up 26.2% on YoY basis.

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 company's consolidated net profit increased 18.21% to Rs 1,070.45 crore on 11.87% rise in revenue from operations stood to Rs 4,256.04 crore in Q4 FY24 over Q4 FY23.

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