Eicher Motors stock in focus after Royal Enfield total sales rise 11% in September
Eicher Motors shares will be in the spotlight on Thursday after its motorcycle division, Royal Enfield, reported an 11% year-on-year (YoY) increase in total sales to 86,978 units for September, compared to 78,580 units in the same month last year.
In the domestic market, dispatches increased 7% YoY to 79,326 units from 74,261 units in the year-ago period, Royal Enfield said in a statement. Meanwhile, exports rose to 7,652 units last month, up from 4,319 units in September last year, marking a 77% YoY increase.
«We have registered steady growth in September, driven by our recent launches. The 2024 Classic 350 continues to solidify its iconic status and remains popular among riders,» said Royal Enfield CEO B. Govindarajan. He added that the company’s commitment to delivering a pure motorcycling experience will drive further momentum.
In addition, the company also said its arm VE Commercial Vehicles reported a 5.7% YoY increase in its sales to 7,609 units in September. This includes 7,322 units of the Eicher brand and the remaining 287 units of the Volvo brand, it added.
The company sold a total of 7198 vehicles in September 2023, according to a statement.
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