Royal Enfield Reports Decline In Sales By 69% In May 2020
Royal Enfield posted 19,113 sales of motorcycles in the month of May 2020, against the sales of 62,371 motorcycles for the same month last year.
The domestic sale of the company stood at 18,429 units as against 60,211 units in the same month last year, down by 69 per cent.
The export also saw a steep decline pf 68 percent at 684 units compared to 2160 units in May 2019.
MOTORCYCLES SALES | May | YTD | ||||
2020 | 2019 | Growth | 2019'20 | 2018'19 | Growth | |
Domestic | 18,429 | 60,211 | -69% | 18,429 | 1,19,348 | -85% |
Exports | 684 | 2160 | -68% | 775 | 5902 | -87% |
Total | 19113 | 62371 | -69% | 19204 | 125250 | -85% |
Business Update
Royal Enfield resumes operations at its manufacturing facilities
Royal Enfield announced the resumption of operations at its manufacturing facilities in India starting May 6, 2020. Royal Enfield’s manufacturing unit at Oragadam, near Chennai, India has started operating in a staggered manner, with minimal staff over a single shift. The other two manufacturing facilities - Tiruvottiyur and Vallam Vadagal - will also commence production soon. The company also announced that all its corporate locations including offices in Chennai, Gurgaon and the UK Technical Centre will continue to remain closed, and employees will continue working from home. Around 120 dealerships have begun partial operations and the rest will resume functioning soon.
Eicher Motors Ltd appointed Kaleeswaran Arunachalam as Chief Financial Officer
Eicher Motors Ltd announced the appointment of Kaleeswaran Arunachalam as the Chief Financial Officer of the company effective May 6, 2020. In this role, Kaleeswaran will report to Vinod K Dasari, CEO - Royal Enfield, and will be part of the Management Team of Royal Enfield. He will lead the finance function for Eicher Motors. Kaleeswaran takes on this role from Lalit Malik who has been the CFO of the company for the last 10 years. Lalit continues to be the Chief Commercial Officer of Royal Enfield.
