Eicher Motors' July Sales: Shares Drop 1% Amidst Growing Competition

2 Aug 2023 , 03:21 PM

Eicher Motors Limited shares declined over 1 % to Rs 3,390 at 9:20 am on August 2, 2023, following lower-than-expected July sales. July sales rose 32 % year-on-year to 73,117 units.

Sales in the up to 350cc segment grew by 39 % year-on-year, reaching 64,398 units. Exports experienced a decline of 22 % at 7,055 units, while domestic sales jumped 42 % to 66,062 units compared to the same period last year.

The VECV segment, a joint venture of Volvo Group and Eicher Motors, reported sales of 5,877 units, down 2 % from last year’s figures and lower than the estimated 6,400 units.

Intensifying competition in the premium bike market has threatened Royal Enfield’s 90 % market share, leading to a loss of Rs 11,300 crore in market capitalization in early July.

Eicher Motors is set to announce its first-quarter results on August 3, 2023, with investors keen on assessing the company’s ability to navigate challenges in the automobile sector.

For feedback and suggestions, write to us at [e-mail]