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Eicher Boasts of Strong Sales Report for March 2016

Published On Apr 04, 2016By Prashant Talreja

The month of March saw strong sales across the commercial vehicles spectrum, with a vast majority of companies reporting good year-on-year growth. Eicher Motors had sold 6753 units last month, against 4507 units in the same period last year.

The company saw sound performance on all fields, interacting along with its commercial vehicles area to boost its profit. On the two-wheeler area, the company saw a massive 52 percent jump in its Royal Enfield sales. “Reaching sales of over fifty thousand motorcycles in a single month is a significant milestone for Royal Enfield. We approximately manufactured a similar number of motorcycles in 2010 that goes on to show our focus and hard work that we have put in all these years,” said Rudratej Singh, president for Royal Enfield.

Sales of vehicles with engine capacity exceeding 350 cc rose by 55 percent, while those of engine capacity below 350 cc saw a boost of 34 percent on a year-on-year basis.

On mid-day of April 1, 2016, the company's shares were positioned at INR 19,435.00, having spiked by INR 196.50 (1.02 percent) from the previous closing value of INR 19,238.50 on the BSE. The stock opened at INR 19,315.10, reaching its peak value at INR 19,478.05 and sinking to its lowest at INR 19,290.05 respectively. Till that point, 2,140 shares were traded on the counter.

About Eicher Motors:

Eicher is one of the premier truck makers in the country. Based in Gurgaon, the brand operates with an employee base of nearly 3000 staff. The brand originated from a tractor service company known as Goodearth, all the way back in 1948. It has a manufacturing presence that stretches across the country, with the primary base situated in Pithampur, Madhya Pradesh. The company also sells commercial vehicle products through a joint venture with Swedish mega brand Volvo, labelled Volvo Eicher Commercial Vehicles Limited.

See Also:

Brokerage Firm Downgrades Eicher Motors Leading to Slip in Stock Value

Positive Market Signs for 2016, as VECV Booms with 57% Growth

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