Eicher Motors goes 2% downhill after decline in two-wheeler sales in Dec

Shares of Eicher Motors Limited traded 2 percent lower to Rs 3,963 in early trade on January 2 after the company announced a 7 percent dip in its two-wheeler sales in December.

During the month, the Royal Enfield maker sold 63,387 units lower than in December 2022 when the company sold 68,000 units, the company said in an exchange filing on January 1.

At 9:20am, the counter was trading at Rs 3,988, down 1.2 percent from the previous close on the NSE. In the last one year, the stock has gained 25 percent on the exchanges.

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As per data, Eicher sold 55,401 units of models with engine capacity up to 350cc, down 10 percent as the company sold over 60,000 units in December last year. Two-wheelers with engine capacity exceeding 350 cc surged 11 percent as the automobile major sold 7,986 as against 7,177 in December 2022.

Also read: Eicher Motors runs into Rs 130-crore tax hurdle, stock slips 2%

Its VECV business, a joint venture between Volvo and Eicher Motors posted an 11 percent growth in total sales at 8,026 units in December 2023. December 2023 sales included 7,789 units of the Eicher brand and 237 units of the Volvo brand.

In the domestic commercial vehicles market, Eicher-branded trucks and buses recorded sales of 7,468 units last month as against 6,671 units in December 2022. Exports of Eicher-branded trucks and buses were down 3.3 percent at 321 units as against 332 units in December 2022, it added.

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