Royal Enfield sales grows 84% YoY in March

The sale of Royal Enfield motorcycle soared 84% to 66,058 units in March 2021 from 35,814 units in March 2020.

Sequentially, the company's total motorcycles sales surged 3.96% in March 2021 from 63,536 units sold in February 2021.

The sales of models with engine capacity upto 350cc climbed 93% to 58,471 units and the sales of models with engine capacity exceeding 350cc improved 39% to 7,587 units in March 2021 over March 2020.

Royal Enfield motorcycle exports surged 85% to 5,885 units in March 2021 from 3,184 units in March 2020.

Meanwhile, VE Commercial Vehicles (VECV), an unlisted subsidiary of Eicher Motors, sold 7037 vehicles in March 2021 compared with 1499 vehicles sold in March 2020. Total domestic sales were at 6054 units in March 2021 as against 1409 units sold in March 2020. The company exported 816 vehicles during the month compared with 67 vehicles exported in the same period last year. Total Volvo Trucks & Buses sales stood at 167 units in March 2021 as against 23 units in March 2020.

Shares of Eicher Motors declined 3.70% to Rs 2,533.25 on BSE.

On a consolidated basis, Eicher Motors' net profit rose 6.79% to Rs 532.59 crore on 19.28% increase in revenue from operations at Rs 2,828.26 crore in Q3 December 2020 over Q3 December 2019.

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.