Royal Enfield and VECV July sales records robust growth
Commenting on Royal Enfield’s performance, Siddhartha Lal, Managing Director & CEO Eicher Motors Ltd said, “Royal Enfield has maintained its strong volume growth in the first quarter of FY 2016-17 and we continue to take more orders than our monthly supply.
Both Royal Enfield and VECV businesses of Eicher Motors have been strengthening the company's performance.
Eicher Motor’s core business Royal Enfield recorded robust growth in July sales.
In July, the Royal Enfield contributed 31% growth by selling nearly 53,378 units compared to 40,760 units in the corresponding period of the previous year.
Out of the total unit sold in July, around 47,651 units were of models with engine capacity upto 350 cc, which rose by 31% from 36,434 units in July 2015.
Remaining of the total were from models with engine capacity exceeding 350 cc, with 5727 units sold in July 2016, rising by 32% against 4326 units in July 2015.
In terms of year-to-date, Royal Enfield has jumped over 36% to 2,00,861 units from 1,47,373 units sold in previous financial year.
During the first quarter of the current financial year (Q1FY17), Royal Enfield continued to be biggest bolster for Eicher Motors by recording 38.33% growth on selling 147,483 units in the quarter versus 106,613 in the same quarter of the previous year.
Commenting on Royal Enfield’s performance, Siddhartha Lal, Managing Director & CEO Eicher Motors Ltd said, “Royal Enfield has maintained its strong volume growth in the first quarter of FY 2016-17 and we continue to take more orders than our monthly supply. The response to Himalayan- Royal Enfield’s first adventure-tourer, has been extremely encouraging and it is now available for booking across the country. We continue to expand our footprint in India with 566 dealerships now open across the country.”
Our immediate business outlook remains strong and Royal Enfield continues to grow consistently, competitively and profitably towards leading and expanding the mid-sized motorcycle segment globally,”added Sidhartha.
Not only this, the company’s VE Commercial Vehicles performance has also been positive during the July sales.
As per the data, Domestic ETB (Eicher Truck and bus) business has grown by 20.1% to 3664 units versus 3050 units sold in the corresponding quarter of the previous year.
The domestic volvo truck India (VTI) has also risen by 28.3% to 59 units from 46 units in July 2015. Year-to-date, the overall domestic ETB has reached to 17266 units, increasing by 26% from 13707 units in July 2015.
Overall export has been positive with ETB surging by 8.1% to 651 units from 602 units in similar period of the previous year. Till now export sales stood at 2963 units of ETB, up by 63.9% versus 1808 units.
Total sales (Domestic + Exports) stood at 4315 for ETB, witnessing growth of 18.2% against 3652 units recorded in July 2015.
VE Commercial Vehicles Limited is an unlisted subsidiary of Eicher Motors
Total VECV sales for the June quarter stood at 16,071 units, up by 32.51% yoy.
Commenting on VE Commercial Vehicles (VECV)’s performance Siddhartha said, “VECV demonstrated an impressive performance in Q1 2016-17 with sales of 16,071 units recording a growth of 32.5% over the corresponding period in 2015. VECV also increased its overall market share to 15.1% in this quarter, as compared to 13.2% recorded in the same period last year. VECV continues to do well in the sub 5-ton category with the introduction of Pro 1049 where it is currently selling more than 100 trucks every month since its launch in the last quarter.”
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.