Eicher Motors gains after strong sales in July 2021

Eicher Motors rose 1.03% to Rs 2,557.65 after VE Commercial Vehicles (VECV) sold 4,271 vehicles in July 2021, registering a growth of 95.6% as compared to 2,184 vehicles sold in July 2020.

VECV's total sales soared 75.18% from 2,438 units sold in June 2021. The unlisted commercial vehicles subsidiary of Eicher Motors recorded 104.9% growth in total domestic sales as it stood at 3,553 units in July 2021 as against 1,734 units in July 2020. Total exports jumped 59.2% during the month to 640 units from 401 units in the same period last year.

Eicher Motors said that total motorcycles sales rose 9% to 44,038 units in July 2021 from 40,334 units in July 2020. Sequentially, the company's total motorcycles rose 2.29% in July 2021 from 43,048 units sold in June 2021. While sales of models with engine capacity upto 350cc grew 3% to 37,556 units, sales of models with engine capacity exceeding 350cc increased 64% to 6,482 units in July 2021 over July 2020.

 

The announcement was made on Sunday, 1 August 2021.

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.

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