Eicher Motors' Motorcycle Division, Royal Enfield has grown by 33 percent in October 2016, with sales of 59,127 units over 44,522 units in October 2015. During this time frame, exports also rose by 95 percent at 748 units, compared to 384 units in October 2015. The total growth for the company from all its divisions is reported to be 45 percent. The consolidated net profit for the second quarter was Rs 413.20 crore compared to Rs 284.60 crore in the same quarter of the previous fiscal.
On the achievement, Siddhartha Lal, Managing Director and CEO, Eicher Motors Limited, said “Buoyed by an impressive 31% growth in motorcycles sale to 1,66,941 units (1,27,611 units) coupled with a sharp jump in CV sales to 13,408 units (11,657 units) as well as internal cost cutting exercises, we were able to post higher EBITDA margin at 31% as against 27% in the same quarter last fiscal. It is an exciting quarter for us. We continue to witness demand for our motorcycles and some Classic range motorcycles have a waiting period of 3 months.”
Eicher Motors Private Limited currently sells a range of small commercial vehicles, along side a collaboration with Polaris Industries Inc (USA). Motorcycles are sold under the Royal Enfield brand, which includes the 350cc and 500cc engine models. The company recently introduced a new 400cc engine for a purpose-built motorcycle, the Himalayan for adventure-loving riders.