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Eicher Motors CV sales rise 3.2% YoY in Nov

Capital Market 

VE Commercial Vehicles, an unlisted subsidiary of Eicher Motors, announced that its total commercial vehicles (CV) sales rose 3.2% to 3,710 units in November 2020 from 3,592 units in November 2019.

Sequentially, total CV sales dropped 11.66% last month from 4,200 units sold in October 2020.

While total domestic sales expanded by 4.7% to 3,088 units, total exports contracted 5.8% to 473 units in November 2020 over November 2019.

Eicher Motors' consolidated net profit dropped 40% to Rs 343.34 crore on 2.7% decrease in net sales to Rs 2,111.98 crore in Q2 September 2020 over Q2 September 2019.

Shares of Eicher Motors gained 0.79% to Rs 2,556.70.

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.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Tue, December 01 2020. 14:12 IST