Shares of Eicher Motors fall 3.6 percent to Rs 2,373.50 on the BSE
Royal Enfield (Representative image)
Eicher Motors, which owns the iconic Royal Enfield brand, has recalled 26,399 units of its most popular motorcycle Classic 350, according to the Economic Times.
In a statement sent to the Society of Indian Automobile Manufacturer’s Association, the company cited a potential brake issue, and said the recall was a precautionary measure.
The issue pertains to a J1A motorcycle produced between September 1 and December 5.
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Royal Enfield confirmed the development to the publication and said the technical team has discovered a potential issue in one of the parts – the brake reaction bracket attached to the motorcycle swing arm – used specifically on the 2021 single-channel ABS and rear drum brake Classic 350 motorcycles.
“At Royal Enfield, we have robust and rigorous testing and development protocols, and adhere to global validation standards of quality and durability. However, issues like this can arise under specific, extreme riding conditions, and we are committed to resolving this at the soonest, with minimum inconvenience for our customers,” the report said quoting the statement from the company.
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Shares of Eicher Motors fell 3.6 percent to Rs 2,373.50 on the BSE on December 20. However, the fall was in line with most of its peers on the Nifty Auto index, as they were down 2-5 percent amid an overall market selloff.
At 11:34am, the stock was down 3 percent at Rs 2,388.35.
