Eicher Motors shares off day's high after sales of Royal Enfield bikes exceeding 350 cc decline 6% in November

Shares of Eicher Motors came off intraday highs in noon deals on Monday, December 1, after it reported monthly bike sales data for the month of November.

Eicher Motors shares fell as much as 3.1% from the day's highest level to hit an intraday low of ₹7,028.05 on the BSE after sales of Royal Enfield motorcycles, exceeding 350 cc capacity, declined 6% annually to 10,358 in November compared with 10,996 bikes it sold in the same month last year.

Sales of its bikes with engine capacity up to 350 cc, however, rose 27% to 90,312 units in November as against 71,261 bikes it sold in the year-ago period.

International business sales rose marginally by 2% to 10,265 units versus 10,021 units in the corresponding period last year.

Royal Enfield's total sales advanced 22% to 1,00,670 units in November this year as against 82,257 bikes it sold last year.

“November was truly a special time for us at Royal Enfield. At EICMA, this year, we marked a significant milestone as we entered our 125th year of Pure Motorcycling, a legacy that is built on authenticity, craftsmanship, and an unwavering pursuit of timeless design. Our showcase at EICMA this year reflected a perfect blend of past, present and future; ranging from the special edition of our most iconic motorcycle – the Classic 650 to a bigger and bolder Bullet 650, to pushing the boundaries of urban exploration with the Flying Flea S6," said B. Govindarajan, Managing Director, Eicher Motors and Chief Executive Officer Royal Enfield.

"Carrying that energy back home, Motoverse in Goa welcomed people from across the globe, and it was heartening to see the strong enthusiasm for the new motorcycles we unveiled for the riding enthusiasts. Motoverse brought together riders who have been with us for decades and many who are just starting their journey with us and every moment there was a reminder that this community truly is the soul of Royal Enfield,” Govindarajan added.

Eicher Motors shares staged some recovery from intraday lows and ended 1.17% higher at ₹7,137, outperforming the NIFTY50 index which closed 0.1% lower.