TNI || New Delhi || 04th March 2022
VE Commercial Cars (VECV), an unlisted company of Eicher Motors, sold 5,856 commercial vehicles in February 2022, up 7.3 percent year over year from 5,457 units in the same period last year.
Total domestic sales of Eicher trucks and buses increased 5.6 percent to 5,093 units in February 2022, while total exports increased 27.8% at 652 units over February last year.
Volvo truck and bus sales were 111 units in February 2022, a decrease of 9% from the 122 units sold in February 2021.
Royal Enfield, the world’s leading middleweight motorcycle manufacturer, is listed as a subsidiary of Eicher Motors.
Aside from motorcycles, Eicher has a strategic alliance with AB Volvo of Sweden called Volvo Eicher Commercial Vehicles, which operates in the commercial vehicle market in India.
Despite a 1.9 percent increase in overall sales to Rs 2,881 crore in Quarter 3 FY 22 over Quarter 3 FY 21, the company’s consolidated net profit fell by 14% to Rs 456 crore.
Notably, Eicher Motors’ stock fell 1.55 percent to Rs 2,586.35 at the start of the week.