Eicher Motors Reports Dip in October Sales Amidst Export Surge

Eicher Motors Ltd reported a 5% decline in total sales for October 2024 through its joint venture, VE Commercial Vehicles Ltd. Sales fell from 7,486 to 7,112 units, although exports saw a considerable 49.3% increase. Domestic sales for Eicher decreased by 6.6% compared to October 2023.

Eicher Motors Ltd has reported a 5% decline in its total sales for October 2024 through VE Commercial Vehicles Ltd, its joint venture with Volvo Group. This marks a drop from 7,486 units in October 2023 to 7,112 units this year, according to their recent regulatory filing.

October 2024's sales figures included 6,911 units under the Eicher brand and 201 for Volvo vehicles, shedding light on the substantial impact on the domestic market. Sales of Eicher branded trucks and buses within the country recorded a decline of 6.6%, with sales dropping to 6,611 units from 7,077 units in the previous year.

On a brighter note, Eicher's export market showed a robust performance, with a 49.3% surge in exporting activities. The company exported 300 units last month compared to 201 units in October 2023. This demonstrates a positive trend in international demand even amidst domestic challenges.

(With inputs from agencies.)