Eicher Motors’ Royal Enfield sales jump ~11% in September

3 Oct 2024 , 02:39 PM

Eicher Motors’ shares slumped 4% to a day’s low of ₹4,764.80 on the BSE, despite the fact that its motorbike division, Royal Enfield, reported an 11% year-on-year (YoY) growth in overall sales to 86,978 units in September, up from 78,580 units the previous year.

In the domestic market, dispatches grew 7% year-on-year to 79,326 units, up from 74,261 units the previous corresponding period, according to Royal Enfield. 

Meanwhile, exports increased by 77% year-on-year to 7,652 units last month, up from 4,319 units in September 2017.

Furthermore, the business announced that its branch, VE Commercial Vehicles, increased sales by 5.7% year on year to 7,609 units in September. This includes 7,322 Eicher units and the remaining 287 Volvo vehicles, it said. 

In September 2023, the company sold 7198 vehicles, according to a statement.

VE Commercial Vehicles is a joint venture between Eicher Motors and the Swedish automaker Volvo Group.

In the domestic market, sales of Eicher-branded trucks and buses grew 2% to 6,847 units in September, up from 6,715 units the previous year, according to the business.

Exports of Eicher-branded trucks and buses reached 475 units in the previous month, up from 250 units in September 2023, representing a 90% year-on-year increase, according to the business.

At around 1.05 PM, Eicher Motors was trading 3.32% lower at ₹4,807.35 per piece, against the previous close of ₹4,972.65 on NSE. The counter touched an intraday high and low of ₹4,950, and ₹4,711, respectively.

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