Eicher Motors total sales jump 22% to 77,461 units in May

Eicher Motors posted a 22 percent on year growth in total sales of its motorcycles in May to 77,461 units. Total sales in May of last fiscal were at 63,643 units. The sales during the month, driven by domestic business, also topped Nomura’s estimates of 76,000 units.

Domestic sales rose 32.3 percent on year to 70,795 units as against 53,525 units in the corresponding month last year. However, the export market remained weak, with sales falling 34 percent on year to 6,666 units. Exports in May last year were at 10,118 units.

Total sales for VE Commercial Vehicles, a joint venture between the Volvo Group and Eicher Motors, increased 11.6 percent year-on-year to 6,289 units. Sales in the domestic market grew 15.8 percent to 5,826  units from 5,033 units in May last year.

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However, exports slumped 46.9 percent to 250 units from 471 units in the same month last year.

Meanwhile, investors seemed to book some profits off the stock following its strong gains of around 5 percent in the past nine sessions. As a result, at 09.35 am, shares of Eicher Motors were down 0.56 percent at Rs 3,696.50 on the National Stock Exchange.

The stock has also been on a roll in recent times as it rose 18.5 percent in the past three months, giving investors more leeway to book profits.

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