Eicher Motors reports 9% YoY growth in overall sales volume in FY24

Eicher Motors Ltd reported a 9% year-on-year (YoY) growth in its total domestic sales volume for the financial year 2023-24, ending March 31, 2024.

The domestic sales for trucks and buses for the leading commercial vehicle producer stood at 79,367 units in FY 2023-24 compared to 72,827 units in FY 2022-23, the company said in its business updates for the month of March.

However, the domestic sales for the month of March dropped 6.6% to 10,525 units in 2024 compared to 11,263 units in the year-ago period.

The company's total sales volume for trucks and buses jumped 6.9% YoY in FY 2023-24 compared to the previous financial year. Total sales stood at 83,088 units in FY24 as against 77,760 units in FY23. For the month of March, the company’s sales volume dropped 5.9% YoY to 10,986 in 2024 from 11,677 units in March 2023.

Eicher Motors registered 11.4% growth YoY in exports of trucks and buses in March 2024 compared to the year-ago period. In March 2024, exports stood at 461 units against 414 units in March 2023. However, on a YoY basis, the exports declined 24.6% to 3,721 units in FY24 from 4,933 units in FY23.

In the full financial year 2024, Eicher Motors managed to sell a total of 9.1 lakh units of motorcycles versus 8.34 lakh units in the previous fiscal year, marking a 9% rise in sales.

However, the company’s International Business witnessed a double digit decline for March 2024 as well as FY24. Motorcycle sales dropped 23% on a YoY basis to 9,507 units last month from 12,351 in the same month in 2023.

The automaker’s international business saw a 22% drop in sales in FY24 to 77,937 units as opposed to 1,00,055 motorcycles sold in the preceding fiscal.

Eicher Motors shares closed 1.66% lower at ₹3,952 per piece on the NSE.