Royal Enfield sees 16% dip in sales in FY20, 41% in March

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Royal Enfield sees 16% dip in sales in FY20, 41% in March
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Royal Enfield maker Eicher Motors Ltd stated its bike division posted a 41% drop in its total gross sales quantity in March 2020.

Royal Enfield, the two-wheeler division of Eicher Motors Ltd, registered a significant drop in complete bike gross sales to 35,814 models in the course of the month. This can be a dip of 41% in comparison with 60,831 models offered in March 2019.

Royal Enfield’s exports gross sales grew 33% to three,184 models within the March month, as in comparison with 2,397 models recorded in the identical month a 12 months in the past.

As per the regulatory assertion, filed on Wednesday, firm’s complete gross sales (together with exports) fell by 16% to six,95,947 models in FY20 (April 19 – March 20) as in opposition to 8,26,098 models registered in FY19 (April 18 – March 19).

Nevertheless, firm’s yearly exports grew 89% to 39,296 models from 20,825.

As per the submitting, the corporate has suspended its manufacturing actions ranging from March 23 till April 14 amid coronavirus outbreak.

“As regards to BS-IV inventory, the corporate efficiently cleared all its stock of BS-IV bikes throughout channels and dealerships by March 20th, 2020,” the regulatory submitting stated.

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Royal Enfield’s exports gross sales grew 33% to three,184 models within the March month, as in comparison with 2,397 models recorded in the identical month a 12 months in the past.

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