Zero tariff buzz on Harley Davidson bikes: Eicher Motors skids 3%; Hero MotoCorp, TVS Motor remain unscathed; here is why

At the time of writing this article, Hero MotoCorp was up 1.20%, TVS Motor was trading 1.52% higher, while Bajaj Auto was trading flat.

The development is negative for Eicher Motors, as it will face direct competition from Harley Davidson motorbikes in higher engine capacities, for which Eicher Motors' Royal Enfield motorcycles command a premium in the Indian two-wheeler market.

While Hero MotoCorp, Bajaj Auto and TVS Motor Company are likely to have minimal impact from this development, as most of their bike offerings come in lower engine capacities.

Royal Enfield's motorbikes start from an engine capacity of a minimum of 350 cc and go up to 650 cc, analysts said.

Royal Enfield sold 101,021 bikes in March 2025, marking an increase of 34% from the same month last year. The surge came on the back of strong domestic and overseas sales. Royal Enfield's domestic sales increased by 33% to 88,050 units, while exports grew by 36% to 12,971 units.

In the December quarter, Eicher Motors' net profit rose 17.52% to ₹1,170 crore from ₹996 crore in the same period last year. Its revenue rose 19% to ₹4,888.11 crore as against ₹4,115.60 crore in the year-ago period.

The company is yet to announce March quarter earnings.

As of 11:41 am, Eicher Motors shares traded 1.08% lower at ₹5,716, underperforming the NIFTY50 index, which was up 0.32%. The shares of the two-wheeler maker have so far this year advanced 20%, outperforming the NIFTY50 index, which has advanced 2.5% year-to-date.