Eicher Motors fell 1.51% to Rs 2,052.50 after the company's total motorcycles sales slipped 7% to 66,891 units in October 2020 from 71,964 units in October 2019.
Sequentially, total motorcycles sales surged 11.40% in October 2020 from 60,041 units sold in September 2020.
While the sales of models with engine capacity upto 350cc fell 6% to 60,467 units, the sales of models with engine capacity exceeding 350cc dropped 17% to 6,424 units in October 2020 over October 2019.
Total exports skid 9% to 4,033 units in October 2020 from 4,426 units in October 2019.
VE Commercial Vehicles, an unlisted subsidiary of Eicher Motors, announced that its total commercial vehicles (CV) sales jumped 11.9% to 4,200 units in October 2020 from 3,755 units in October 2019.
Sequentially, total CV sales surged 19.79% last month from 3,506 units sold in September 2020.
While total domestic sales expanded by 15.3% to 3,815 units, however, total exports contracted by 15.3% to 315 units in October 2020 over October 2019.
The motorcycle and VECV numbers were announced separately on Sunday, 1 November 2020.
The company reported consolidated net loss of Rs 55.18 crore in Q1 June 2020 as compared to net profit of Rs 451.77 crore in Q1 June 2019. Net sales slumped 65.7% to Rs 809.16 crore in Q1 FY21 over Q1 FY20.
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.
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