Eicher Motors announces sales figures for July 2022

Eicher Motors said that its unlisted subsidiary VE Commercial Vehicles had sold 5982 units of commercial vehicles in July 2022, which is higher by 40.10% as compared with 4271 units sold in July 2021.

While total domestic sales increased by 50.90% to 5360 units, total exports fell by 21.70% to 501 units in July 2022 over July 2021.

Total sales of Volvo Trucks & Buses increased by 55.10% from 78 units in July 2021 to 121 units in July 2022.

Separately, Eicher Motors informed that it had recorded a growth of 26% in July 2022 with sales of 55,555 motorcycle units as against 44,038 units in the month of July 2021.

While sales of models with engine capacity upto 350cc had risen by 23% to 46,336 units, sales of models with engine capacity exceeding 350cc had jumped 42% to 9,219 units in July 2022 over July 2021.

International Business had recorded sales of 9,026 units in July 2022, up by 90% from 4,748 units sold in July 2021.

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 company reported 16% jump in consolidated net profit to Rs 610.14 crore on a 8.6% increase in total revenue from operations to Rs 3,193.32 crore in Q4 FY22 over Q4 FY21.

The scrip rose 0.95% to currently trade at Rs 936.15 on the BSE.

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