On the bourses, M&M has gained about 6% over the past month, while Uno Minda has surged more than 6%. On the flipside, TVS Motor dropped over 1%. In comparison, BSE Auto index declined nearly 2.5%
Eicher's stock rose more than 8.3 per cent and was the top gainer on the Nifty auto index, which was up about 1 per cent
Japan-based brokerage Nomura has upgraded Eicher Motors to a 'Neutral' rating from 'Reduce' and raised its target price from Rs 4,102 to Rs 4,391
Motorcycle maker Royal Enfield on Wednesday said its total wholesales increased 11 per cent year-on-year to 86,978 units in September. The company had dispatched 78,580 units in September 2023. In the domestic market, dispatches increased 7 per cent year on year to 79,326 units from 74,261 units in the year-ago period, Royal Enfield said in a statement. Exports increased from 4,319 units in September last year to 7,652 units last month. "We have registered steady growth in the month of September owing to our recent launches. The 2024 Classic 350 has continued to solidify its iconic status and popularity among riders and has been performing well," Royal Enfield CEO B Govindarajan said. As the company continues to innovate and deliver pure motorcycling experience, the momentum will only accelerate, he added.
The Bullet 350 model saw 14 per cent volume drop in Q1FY25, reflecting limited acceptance of the new model. Similarly, the Hunter 350, launched in FY23, saw an 8 per cent volume decline.
Overall, Eicher Motors reported promising numbers, with profits surging over 31 per cent to Rs 983.3 crore in Q4FY24, compared to Rs 747 crore in Q4FY23
On a sequential basis, the company's PAT rose 7.48%, while the revenue rose by 1.85%
Motorcycle maker Royal Enfield on Friday reported a 6 per cent year-on-year increase in wholesales to 75,935 units in February. The company, a part of Eicher Motors, had dispatched 71,544 units in the same month last year. Domestic sales were at 67,922 units last month as against 64,436 units in the year-ago month, a growth of 5 per cent, Royal Enfield said in a statement. Exports rose 13 per cent to 8,013 units compared to 7,108 units in February 2023, it added. "Over the last few months, while our new motorcycle launches have done exceedingly well, our existing motorcycles have also contributed to our strong growth momentum across bookings and retails," Royal Enfield CEO B Govindarajan said. "As we come to the close of the financial year, we are confident of a strong and healthy overall performance, and believe that we can continue this momentum for the next year as well," he said.
Motorcycle maker Royal Enfield said on Thursday its total vehicle sales grew 2 per cent year-on year to 76,187 units in January 2024. The company had sold a total of 74,746 motorcycles in January 2023. The domestic sales were up 4 per cent at 70,556 motorcycles last month compared to 67,702 units while exports declined 20 per cent at 5631 units from 7044 units in January 2023, it stated. "Our recently launched motorcycles continue to perform well across markets, and we have had a great start to the new year. We are confident that we will sustain our growth momentum for months to come," said B Govindarajan, CEO at Royal Enfield.
The bike was launched at a starting price of Rs 2.29 lakh, however, it was later raised by Rs 10,500 to Rs 2,39,500
Booking in India begins today, with retails and test rides starting from September 3
The company is evaluating the market requirements and the business prospect for electric motorcycles in the country
The company said that the production capacity has been ramped up in response to the demand trends
Sales for the company in up to 350cc segment vehicles went up by 39 per cent YoY as the volumes grew from 46,336 in July 2022 to 64,398 in July 2023
The products will include an all-new Bullet which is likely to be launched in early September, along with an all-new Himalayan (K1G) with a liquid-cooled engine
The Speed 400 will be available in the second half of July and the Scrambler 400 X will be available by October this year
Priced at Rs 2.29 lakh, X440 motorbike will directly compete with Eicher Motors' Royal Enfield Classic 350's starting price of Rs 1.93 lakh and the Hunter 350's Rs 1.5 lakh
These bikes are likely to heat up competition for the market leader in the segment, Royal Enfield
The pricing will play a crucial role in terms of the challenge Triumph can pose to the market leader, Royal Enfield
Compared to the Bullet and the Meteor, which appear more substantial in their stance, the Hunter packs a more deceptive look and may not come across as having the same engine as the former two