Eicher Motors motorcycle sales rises to 76,187 units in January

Eicher Motors said that it has sold 76,187 motorcycle units in January 2024, which is higher by 2% as compared with 74,746 units in January 2023.

While sales of motorcycle models with engine capacity up to 350cc decreased by 1% to 67,620 units, sales of motorcycle models with engine capacity exceeding 350cc increased by 31% to 8,567 units in January 2024 over January 2023.

The International Business recorded sales of 5,631 units in January 2024, down by 20% as compared with 7,044 units sold in the corresponding period last year.

Separately, Eicher Motors announced that its unlisted subsidiary VE Commercial Vehicles (VECV) had reported 1.6% decrease in commercial vehicles (CV) sales to 7,066 units in January 2024 from 7,181 units in January 2023.

 

While the domestic sales fell by 4.2% to 6,503 units, total exports soared 76.6% to 355 units in January 2024 over January 2023.

Total sales of Volvo trucks and buses in January 2024 increased by 10.1% to 208 units from 189 units sold in January 2023.

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 automobile major's consolidated net profit jumped 54.71% to Rs 1,016.25 crore on 16.91% rise in total revenue from operations to Rs 4,114.53 crore in Q2 FY23 over Q2 FY22.

The scrip declined 1.74% to currently trade at Rs 3,864.90 on the BSE.

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