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Informist, Friday, Nov. 1, 2024

 

--Eicher Motors: Oct total CV sales 7,112 units vs 7,486 year ago 

--Eicher Motors: Oct total domestic CV sales 6,611 units vs 7,077 year ago 

 

MUMBAI – Eicher Motors Ltd.'s commercial vehicle sales fell 5% on year in October to 7,112 units. Its overall domestic sales of commercial vehicles fell almost 7% to 6,611 units in October from 7,077 units a year ago. Eicher sold 3,765 light and medium-duty trucks in India in October, up from 3,546 units in the previous month but down from 3,815 units a year ago.

 

Sales of light and medium-duty trucks, which constitute more than half of the company's sales, were the highest in October so far in the current financial year. Sales of heavy trucks were 2,012 units in October, down from 2,182 a year ago. These trucks account for nearly 30% of the company's domestic sales of commercial vehicles. 

 

Domestic sales of light and medium-duty buses in October were the lowest in at least 11 months at just 725 units, down from 860 units a year ago and down from 1,102 units in the previous month. Besides light and medium-duty buses, the company also reported weak domestic sales for heavy-duty buses at 109 units, the lowest in at least 18 months, down from 220 units a year ago.

 

Although the company reported softer monthly domestic sales, its exports improved on year. Eicher dispatched 300 units of commercial vehicles in October, up from 201 units a year ago. While exports grew on year, Eicher's commercial vehicle exports for October were the second lowest in at least one year. The company exported 183 units of light and medium duty vehicles, up from 146 units a year ago. It exported 35 heavy-duty vehicles in October, up from 11 a year ago. The company exported 82 buses in the month, up from 44 a year ago.

 

Eicher sold 201 Volvo trucks and buses in October, down from 208 in the same month last year. The company's monthly sales of commercial vehicles fell sequentially in both domestic and international markets. However, its domestic sales of light and medium trucks, which account for more than half of its commercial vehicle sales, grew 6% on month. However, cumulative sales of these trucks during Apr-Oct were down 3% at 21,882. 

  

The company's cumulative sales of commercial vehicles rose 2% in Apr-Oct despite the weak sales in October. Eicher sold 47,588 commercial vehicles, up from 46,608 units a year ago. Strong sales in all months except April and October offset the impact of a 5% on-year fall in October sales.

 

Domestic sales of light and medium-duty buses have risen 11% on year in Apr-Oct. Overall, the company's domestic sales of commercial vehicles were nearly flat in Apr-Oct at 43,625 units.

 

The company's exports rose 33% to 2,622 units in Apr-Oct. However, total sales of Volvo trucks and buses fell to 1,341 units in Apr-Oct from 1,388 units a year ago.

 

Eicher Motors had reported a consolidated net profit of INR 11.01 billion for the June quarter on consolidated revenue of INR 43.93 billion. On Thursday, shares of Eicher Motors closed at INR 4,894.65 on the National Stock Exchange, up 0.5%.  End

 

Reported by Aman Aryan

Edited by Ashish Shirke

 

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