Royal Enfield helps Eicher Motors report a net profit of 65% in first quarter
Snapshot: The motorcycle unit of Eicher Motors - Royal Enfield - recorded a growth of 85% during the first quarter of 2014
What seemed as a risk in 1994 is proving to be the best thing Eicher Motors ever did. Buying Enfield India then has helped Eicher revive an otherwise bad phase for automotive sector.
Where the sales of Eicher's heavy duty trucks fell by 32.7%, light and medium duty trucks by 29.1% and buses by 15%, Royal Enfield single-handedly has saved the fate of Eicher Motors. The number of Royal Enfields sold last year for the same period was 34,736 whereas this year, it succeeded to sell 64,268 units.
“While the industry continues to decline, Royal Enfield continues to perform exceptionally well posting record sales and production numbers this quarter and working its way to become a leader in the global mid-sized motorcycling industry. We had a very strong volume growth this quarter and we do continue maintain an extremely healthy order book,” said, Siddhartha Lal, managing director & chief executive officer, Eicher Motors.
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