Eicher Motors August auto sales zoom 29%, stock soars

In a regulatory filing, the company also announced the launch of Royal Enfiled Bullet 350 with the base model price pegged at Rs 1.73 lakh.

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Shares of Eicher Motors were up 2 percent on September 1 after the company reported auto sales of 6,476 vehicles in the month of August, registering a growth of 29.4 percent year-on year (YoY).

In a regulatory filing, the company’s major business making ‘Eicher Trucks and Buses,’ reported a 27.5 percent year-on-year (YoY) growth, having sold 6,239 vehicles in the previous month.

Market segment-wise, domestic sales for the same were up 30.4 percent YoY with the number of vehicles sold reported as 5,907. While, the export figures reportedly dropped 8.5 percent on a yearly basis with the sale of 332 vehicles.

The vehicle sales for ‘Volvo Trucks and Buses,’ produced by Eicher in a joint venture with Sweden based auto-major Volvo, saw a 115.5 percent growth on a yearly basis with 237 vehicles sold in the last month.

In its results for the April-June quarter, the company reported a 17.33 percent year-on-year (YoY) rise in revenue from operations at Rs 3,986 crore. Net profit for the quarter increased 50.24 percent YoY to Rs 918 crore. The operating profit margins for the quarter expanded by 200 basis points on a yearly basis to 26 percent.

In a regulatory filing, the company also announced the launch of Royal Enfiled Bullet 350 with the base model price pegged at Rs 1.73 lakh.

At 2.30 pm, Eicher Motors stock was quoting at Rs 3,400.40 apiece, up Rs 63.80, or 1.91 percent on the NSE. The stock has been witnessing consolidation since July 12.

Eicher Motors Limited is engaged in the business of manufacturing commercial vehicles such as buses, trucks as well as motorcycles. The company’s flagship brand, Royal Enfield, is known for producing mid-sized motorcycles with a focus on classic and retro designs. Eicher Motors has a partnership with Sweden’s AB Volvo to manufacture trucks and buses under the name Volvo Eicher Commercial Vehicles.

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