Eicher Motors' sales soar 9.7% in May with strong domestic and international growth

Domestic sales also saw a notable uptick, rising by 8.2 percent to 6,304 units, compared to 5,826 units year-on-year (YoY).

Eicher Motors, the parent company of Royal Enfield, has disclosed its sales figures for May on June 2, exhibiting a robust performance amidst market challenges.

The company's commercial vehicle arm, VE Commercial Vehicles (VECV), recorded a total sales increase of 9.7 percent, reaching 6,901 units compared to 6,289 units in the same period last year. Domestic sales also saw a notable uptick, rising by 8.2 percent to 6,304 units, compared to 5,826 units year-on-year (YoY). Notably, exports surged impressively by 66 percent to 415 units from 250 units YoY.

However, in contrast, the total sales of Volvo Trucks & Buses witnessed a 14.6 percent decline, totaling 182 units as opposed to 213 units YoY.

Also Read | No plans to acquire any startup in e-motorcycle biz, says Eicher Motors MD and CEO Siddhartha Lal

In the motorcycle segment, Eicher Motors experienced a marginal downturn with total motorcycle sales decreasing by 8 percent to 71,010 units, compared to 77,461 units in May last year. Sales of models with engine capacities up to 350cc saw a decline of 13 percent, amounting to 59,852 units, compared to 69,038 units YoY. Conversely, models with engine capacities exceeding 350cc witnessed a significant surge, recording a 32 percent increase to 11,158 units, compared to 8,423 units YoY.

Despite fluctuations in the domestic market, Eicher Motors' international business remained resilient, posting a 12 percent growth with sales totaling 7,479 units, compared to 6,666 units YoY.

The company's net sales for March-ended quarter surged to Rs. 4,192.08 crore, marking a notable increase of 9.42 percent from the previous year's figure of Rs. 3,831.35 crore. Net profit, which reached Rs. 983.31 crore, reflects a substantial uptick of 31.66 percent from Rs. 746.86 crore recorded in March 2023.