Eicher Motors CV sales down 43% MoM in May

VE Commercial Vehicles (VECV), the unlisted subsidiary of Eicher Motors, sold 1223 units in May 2021, down by 43% as compared with 2145 units sold in April 2021.

VECV's total sales have increased by 78% from 686 vehicles sold in May 2020.

While total domestic sales declined by 57.8% to 656 units, total exports fell by 4.1% to 519 units in May 2021 over April 2021. In May 2020, VECV's domestic sales and exports were at 430 units and 231 units, respectively.

Total sales of Volvo Trucks & Buses have declined by 2% to 48 units in May 2021 over April 2021, but has increased 92% from 25 units sold in May 2020.

 

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 auto maker reported 72.9% jump in consolidated net profit to Rs 526.14 crore in Q4 FY21 compared with Rs 304.28 crore in Q4 FY20. Net sales during the quarter increased 33.8% year-on-year (YoY) to Rs 2,930.38 crore.

The scrip rose 0.41% to currently trade at Rs 2687.45 on the BSE.

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