Eicher Motors Ltd reports 69% fall in sales of Royal Enfield Motorcycles during May 2020

Eicher Motors Ltd has announced the sales figures of Royal Enfield motorcycles for the month of May 2020. The company has sold 19113 motorcycles during May 2020, as compared to 62371 units in May 2019, a drop of 69% YoY.

The company has sold 17543 units of models with engine capacity upto 350cc in May 2020 as against 55833 units in May 2019, registering a drop of 69% YoY.

The company has sold 1570 units of models with engine capacity exceeding 350cc during May 2020 as compared to 6538 units in May 2019, a drop of 76% YoY.

Exports stood at 684 units in May 2020 as against 2160 units in May 2019, a drop of 68% YoY.

Subsequent to the Government's directives with regards to resumption of business activities, Royal Enfield resumed operations at its manufacturing facilities starting May 6, 2020. Production activities were started in a gradual and partial manner at the Oragadam facility. The company started the second shift at Oragadam towards the end of the month.

The dealerships also opened in a gradual manner. By the end of the month, nearly two-third of the dealerships are open for business. These dealerships attained nearly the pre-COVID level of bookings towards the end of the month.

Shares of EICHER MOTORS LTD. was last trading in BSE at Rs.16963.1 as compared to the previous close of Rs. 16555.55. The total number of shares traded during the day was 11599 in over 4318 trades.

The stock hit an intraday high of Rs. 17400 and intraday low of 16827. The net turnover during the day was Rs. 198705237.

Source : Equity Bulls

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