Eicher Motors on Monday, 2 March 2020, said its total two-wheeler (Royal Enfield) sales rose 1% to 63,536 units in February 2020 as against 62,630 units in February 2019.
Total two-wheeler exports fell 8% to 2,348 units in February 2020 compared with 2,564 units in February 2019.Eicher Motors stated that the coronavirus outbreak had minimal impact on the production of motorcycles during the month of February. Some of the company's supply partners have dependencies on the manufacturers in China for sourcing of certain specific components. The company is making all efforts for maintaining continued supplies of these components.
On BS VI transition, the company has already moved a large part of its product portfolio to BS VI and is seeing a good response to the BS VI motorcycles. The production of BS VI motorcycles is ramping up as BS VI supply chain is gradually stabilizing.
Meanwhile, Eicher Motors on Sunday, 1 March 2020, said that its total VE commercial vehicles (VECV) sales declined 28.7% to 4,586 units in February 2020 from 6,428 units in February 2019. Total domestic sales slumped 27.4% to 3,875 units while total export sales tanked 39.4% to 564 units during the period under review.
Total VE commercial vehicles sales dropped 17.27% in February 2020 from 5,544 units in January 2020.
Eicher Motors' consolidated net profit fell 6.4% to Rs 498.70 crore on a 1% rise in net sales to Rs 2,350.45 crore in Q3 December 2019 over Q3 December 2018.
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Eicher Motors is the listed parent of Royal Enfield, the global leader in middleweight motorcycles. In addition to motorcycles, Eicher has a joint venture with Sweden's AB Volvo - Volvo Eicher Commercial Vehicles (VECV) - which operates in India's commercial vehicle space. VECV has a complete range of trucks and buses from 5-55 tonnes, and its integrated manufacturing plant in Pithampur, Madhya Pradesh is the global hub for medium duty five- and eight-litre engines for Volvo Group.
Shares of Eicher Motors jumped 4.58% to Rs 17,366.85 on bargain hunting after a recent slide. The stock dropped 11.99% in the past six trading sessions to settle at Rs 16,605.50 on Friday, 28 February 2020, from its close of Rs 18,869.60 on 19 February 2020.
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