The vehicles manufacturer's unlisted subsidiary, VE Commercial Vehicles (VECV) reported 9.7% year over year increase in commercial vehicles (CV) sales to 6,901 units in May 2024.
While, the domestic sales rose by 8.2% to 6,304 units, total exports jumped 66% to 415 units in May 2024 over May 2023.Total sales of Volvo trucks and buses in May 2024 declined by 14.6% to 182 units from 213 units sold in May 2023.
Further, the company said that it has sold 71,010 motorcycle units in May 2024, which is lower by 8% as compared with 77,461 units in May 2023.
Sales of motorcycle models with engine capacity up to 350cc slipped 13% to 59,852 units and sales of motorcycle models with engine capacity exceeding 350cc climbed 32% to 11,158 units in May 2024 over May 2023.
The International Business recorded sales of 7,479 units in May 2024, up by 12% as compared with 6,666 units sold in the corresponding period last year.
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 which operates in India's commercial vehicle space.
The two wheeler makers consolidated net profit increased 18.21% to Rs 1,070.45 crore on 11.87% rise in revenue from operations stood to Rs 4,256.04 crore in Q4 FY24 over Q4 FY23.
The scrip declined 0.23% to currently trade at Rs 4,716.30 on the BSE.
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