VECV's sales in April down y-o-y by 18%

2 May 2024 , 01:07 PM

VE Commercial Vehicles (VECV), the joint venture between Eicher Motors and Volvo, reported an 18.1% year-on-year decrease in commercial vehicles (CV) sales to 5,377 units in April 2024.

Domestic sales declined by 20.3% to 4,898 units, while total exports surged by 38.5% to 356 units in April 2024 compared to April 2023. Total sales of Volvo trucks and buses in April 2024 dropped by 26.8% to 123 units from 168 units sold in April 2023.

Eicher Motors, the listed parent of Royal Enfield, reported selling 81,870 motorcycle units in April 2024, marking a 12% increase from 73,136 units in April 2023.

Sales of motorcycle models with engine capacity up to 350cc rose by 13% to 72,866 units, while sales of motorcycle models with engine capacity exceeding 350cc increased by 7% to 9,004 units in April 2024 over April 2023.

The International Business segment recorded sales of 6,832 units in April 2024, showing a significant 61% increase compared to 4,255 units sold in the corresponding period last year.

Eicher Motors, in addition to motorcycles, has a joint venture with Sweden’s AB Volvo Volvo Eicher Commercial Vehicles, operating in India’s commercial vehicle space.

In Q3 FY24, the two-wheeler maker’s consolidated net profit surged by 34.43% to ₹995.97 Crore, with revenue from operations rising by 12.3% to ₹4,178.84 Crore compared to Q3 FY23.

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