Eicher Motors surges as CV sales jump 25% in February

1 Mar 2024 , 11:41 AM

After the automaker’s unlisted subsidiary, VE Commercial Vehicles (VECV), reported commercial vehicle (CV) sales of 7,289 units in February 2023 as opposed to 5,856 units in February 2022, Eicher Motors saw a 1.10% increase to ₹3,138.65.

The company’s CV sales increased somewhat from 7,289 units sold in January 2022 on a sequential basis.

During February 2023, the total domestic sales of Eicher trucks & buses jumped 33.5% to 6,799 units while total exports slumped 53.8% to 301 units over February 2022.

Compared to 111 units sold in February 2022, total sales of Volvo trucks and buses increased by 70.3% to 189 units in February 2023.

The parent company of Royal Enfield, the world’s top middleweight motorcycle brand, is listed as Eicher Motors. Apart from motorcycles, Eicher and Sweden’s AB Volvo have a joint venture called Volvo Eicher Commercial Vehicles, which functions in the commercial vehicle market in India.

On the back of a 29% increase in operating revenue to ₹3,721 Crore in Q3 FY23 compared to Q3 FY22, the company’s consolidated net profit soared 62.42% to ₹740.84 Crore.

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