Eicher Motors Limited (EML) announced unaudited consolidated financial results for the third quarter ended December 31st, 2017.Commenting on Royal Enfield’s performance, Siddhartha Lal, Managing Director and CEO Eicher Motors Ltd said, “Royal Enfield experienced a strong quarter with the domestic market share in 150cc and above segment increasing to 30.5% from 26.8% in the corresponding quarter of the previous financial year. Export volumes increased by 68% to 5,578 motorcycles in Q3 FY2018 over the same quarter last year on the back of increased focus and activity in International markets. “Speaking about new initiatives at Royal Enfield, Siddhartha added, “This quarter marked the beginning of many new chapters for Royal Enfield. We had the global unveil of the Interceptor
and Continental GT 650 Twins in November at the EICMA Motor Show. We introduced the Himalayan BS4 EFI version and more recently, we launched the adventure-ready Himalayan Sleet + Explorer Kit, that has been well-received by enthusiasts. We opened the first Royal Enfield Garage Cafe in Goa this January. The cafe is an inclusive and engaging space that reflects our motorcycling way of life and is designed to be a catalyst to deepen closer association with riding enthusiasts and customers. “The new Interceptor and Continental GT Twins drew large crowds during the NEC Motorcycle Show at Birmingham (UK) , at the IMS Motor Show in the US and at the Sydney Auto Show in Australia. In India, the Interceptor and Continental GT 650 Twins were showcased at Rider Mania 2017 in November, for the community to have a first look the new motorcycles.
Rider Mania 2017 was the biggest ever gathering of Royal Enfield enthusiasts and saw participation from over 6,500 Royal Enfield riders from India and across the world.Royal Enfield reiterated its long-standing relationship with the Indian armed forces by partnering on the 8,000-km long NSG Motorcycle Expedition 2017. 15 NSG Black-Cat Commandos rode on Royal Enfield Stealth Black Classic 500 motorcycles across the length and breadth of the country to spread the message of collective responsibility towards fighting terror and commemorating NSG’s 33 years of service to the nation. Commenting on VE Commercial Vehicles (VECV)’s performance Siddhartha said, “With almost all the disruptions and uncertainties now behind us, the CV industry is currently on an upward trend, with record sales in December and excellent potential for growth in the current quarter. Another highlight is our readiness and successful homologation of 9 meter air-conditioned, zero emission, fully electric bus for intra-city routes.