Eicher Motors Limited, the parent company of Royal Enfield, witnessed a 2.64% drop in its stock price to ₹4,822.60 on the NSE today, resulting in a decrease in its market capitalization to approximately ₹1,32,168.52 crore. This decline reflects broader market pressures as well as recent updates from its unlisted subsidiary, VE Commercial Vehicles (VECV).
VECV reported a 5% year-on-year decrease in commercial vehicle (CV) sales to 7,112 units in October 2024. While domestic sales declined by 6.58% to 6,611 units, total exports surged by 49.25% to 300 units compared to October 2023. The total sales of Volvo trucks and buses also saw a slight decline, standing at 201 units, down 3.37% from 208 units in October 2023.
On the other hand, Eicher Motors achieved its highest-ever monthly motorcycle sales in October 2024, recording a 30.96% increase to 1,10,574 units compared to 84,435 units in October 2023. However, sales of motorcycles with an engine capacity up to 350cc slipped by 27.29% to 96,837 units, while those with an engine capacity exceeding 350cc surged by 64.32% to 13,737 units.
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