Eicher Motors total motorcycles sales jumps 27% YoY in Jan

Eicher Motors said that its total motorcycles (Royal Enfield) sales jumped 27% to 74,746 units in January 2023 from 58,838 units sold in January 2022.

The sales of motorcycle models with engine capacity up to 350cc jumped 38% to 68,183 units, while sales of motorcycle models with engine capacity exceeding 350cc fell 29% to 6,563 units in January 2023 over January 2022.

The international business recorded sales of 7,044 units in January 2023, down 23% compared with 9,112 units sold in January 2022.

In a separate announcement, the company said that on 31 January 2023, it concluded its proposed strategic investment in Europe's high-performance electric motorcycle manufacturer, Stark Future SL.

Eicher has invested 50 million euro in Stark Future SL and 55,363 Class A shares of Stark Future SL has been allotted to the company. Further, the company has also executed the collaboration agreement with Stark Future SL for collaborative research and development in electric motorcycles, technology sharing, technical licensing, and manufacturing.

Eicher Motors is engaged in the manufacturing and selling of motorcycles, spare parts and related services. The company's consolidated net profit rose 76% to Rs 656.86 crore on 55% rise in net sales to Rs 3,453.43 crore in Q2 FY23 over Q2 FY22.

The scrip was down 0.53% to Rs 3,288 on the BSE.

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