Eicher Motors Limited witnessed a slight downturn in its shares, declining over 1 percent to Rs 4,671 in morning trade on May 3. The dip followed the company’s report of a decrease in motorcycle sales in May amidst challenging circumstances.
The renowned Royal Enfield maker experienced an 8 percent decline in motorcycle sales during May, with 71,010 units sold compared to 77,461 units in the same period last year. Notably, models featuring engines up to 350cc witnessed a 13 percent decrease, dropping to 59,852 units from 69,038 units year-on-year. However, models with engines exceeding 350cc marked a notable 32 percent surge, climbing to 11,158 units from 8,423 units year-on-year.
Despite domestic market challenges, Eicher Motors’ international business displayed resilience, achieving a commendable 12 percent growth with sales reaching 7,479 units, up from 6,666 units year-on-year.
In other segments, the company’s commercial vehicle arm, VE Commercial Vehicles (VECV), reported a total sales increase of 9.7 percent, reaching 6,901 units compared to 6,289 units in the corresponding period last year. Domestic sales also witnessed a significant uptick, rising by 8.2 percent to 6,304 units compared to 5,826 units year-on-year. Impressively, exports surged by 66 percent to 415 units from 250 units year-on-year.
As of 10:35 am, the company’s shares were trading 1.74 percent lower at ₹4,651.25 on NSE.
