Eicher Motors profits up 21% on Royal Enfield sales

Eicher Motors, an Indian company, is working to strengthen its position in the luxury motorcycle market, recording a 21% increase in profits for the last quarter due to strong domestic demand and price hikes. The report shows that sales of 350cc motorcycles increased by 30%, while domestic sales jumped by 32%, surpassing the sector growth of 20.3%. Additionally, the company raised prices for Royal Enfield bikes by 1.75% to offset rising costs, achieving revenues of 63.32 billion rupees, a 31.6% increase. The company plans to increase production capacity to two million motorcycles annually at its Tamil Nadu factory, leveraging tax reductions to boost its market share.

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