Force Motors' production, sales decline in November

The company's total production dropped 20.15% to 1,426 units in November 2020 over November 2019.

Domestic vehicle sales tanked 57.23% to 828 units in November 2020 compared with 1,936 units in November 2019. Total vehicle exports jumped 70.45% to 300 units in November 2020 as against 176 units in November 2019.

Sequentially, total production fell 16.46% in November 2020 compared with 1,707 units in October 2020. Domestic sales fell 47.72% in November 2020 as against 1,584 units in October 2020. Export sales declined 3.84% in November 2020 from 312 units in October 2020.

Force Motors' consolidated net profit soared 233.70% to Rs 14.05 crore on 8% decrease in net sales to Rs 694.58 crore in Q2 September 2020 over Q2 September 2019.

 

Shares of Force Motors rose 4.78% to Rs 1,259.85 on Friday.

Force Motors is engaged in manufacturing light commercial vehicles and utility vehicles, and engines. It is an automobile company, with a focus on design, development and manufacture of a range of automotive components, aggregates and vehicles.

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