Eicher Motors experienced a notable setback on October 3, witnessing a decline of more than 3% in its stock value, which dropped to Rs 5,026.
This downturn was triggered by a 4% year-on-year fall in the sales of Royal Enfield bikes, the company’s primary revenue generator, in the Indian market. In September, Royal Enfield sold 78,580 motorcycles, a decrease from the 82,097 units sold in the same month of 2022.
The international market also posed challenges as overseas sales plummeted by half, with only 4,319 units sold in September 2023 compared to 8,451 units in September 2022. This decline in sales figures has prompted a cautious market response, reflecting the challenges faced by Eicher Motors in its key motorcycle segment.