Royal Enfield had the Classic 350 as their best-selling model in domestic markets while the 650 Twins garnered the most attention globally
Royal Enfield has seen YoY growth both in domestic and global markets in Feb 2023. Domestic sales were not as promising when compared to sales in Jan 2023 but exports improved on a MoM basis. Total sales (domestic + exports stood at 71,544 units in Feb 2023.
RE Domestic Sales Feb 2023 Breakup – Classic 350 Tops
Royal Enfield reported 64,436 units sold in domestic markets in Feb 2023. This was a 23.59 percent YoY growth from 52,135 units sold in Feb 2022. This led to a volume growth of 12,301 units. MoM sales however, dipped by 4.82 percent when compared to 67,702 units sold in Jan 2023 relating to volume decline of 3,266 units.
RE Classic 350 topped sales charts with 27,461 units sold in Feb 2023. This was an 8.71 percent de-growth when compared to 30,082 units sold in Feb 2022. MoM sales however, grew by 5.08 percent over 26,134 units sold in Jan 2023. Share percentage increased from 38.60 percent held in Jan 2023 to 42.62 percent in the past month. Not only was RE Classic 350 at the top of company sales charts but this model also was at No. 1 on the list of 350cc bikes sold in the country in the past month.
Relatively new comer Hunter 350 was at No. 2 with sales of 12,925 units sold in Feb 2023. It was however a MoM decline in sales by 15 percent when compared to 16,574 units sold in Jan 2023. Bullet 350 sales increased by 27.99 percent on a YoY basis while sales fell 15 percent MoM to 8,232 units. There had been 6,432 units sold in Feb 2022 and 9,685 units sold in Jan 2023. This dip in MoM sales brought share percentage down to 12.78 from 14.31 held in Jan 2023.
Sales of RE Meteor 350 have fallen both YoY and MoM to 6,698 units. this was a marginal 0.76 percent YoY decline from 6,749 units sold in Feb 2022 while it was a 12.12 percent de-growth over 7,622 units sold in Jan 2023. Royal Enfield has seen sales growth for the Electra 350 by 49.12 percent YoY to 5,109 units in Feb 2023 from 3,426 units sold in Feb 2022. MoM sales also improved considerably by 21.41 percent from 4,208 units sold in Jan 2023.
In the more powerful segment, sales of RE Himalayan (2,841 units) and 650 Twins (1,170 units) fell 4.57 percent and 52.61 percent respectively in Feb 2023. The two models did experience MoM growth by 13.69 percent and 19.39 percent respectively as against 2,499 units and 980 units sold in Jan 2023. In more recent news, the company has brought in the 2023 Interceptor 650 and Continental GT 650 with new feature updates. It now receives alloy wheels along with a new LED headlight unit, new colour schemes and USB charger.
RE Exports Feb 2023 – 650 Twins dominate
Royal Enfield has seen both YoY and MoM growth where exports were concerned. Exports which had stood at 7,108 units in Feb 2023 improved by 1.18 percent YoY from 7,025 units shipped in Feb 2022. MoM sales were higher by 0.91 percent over 7,044 units sold in Jan 2023.
It was the 650 Twins that commanded the most attention despite a YoY and MoM decline in sales. Sales dipped 10.63 percent YoY to 1,951 units in Feb 2023 from 2,183 units sold in Feb 2022 while MoM sales fell by 7.14 percent from 2,101 units shipped in Jan 2023. Share dipped to 27.45 percent in Feb 2023 from 29.83 percent held in Jan 2023. Sales increased YoY and MoM for the RE Classic 350 in global markets to 1,731 units up 18.89 percent YoY and 14.11 percent MoM.
The new Hunter 350 posted exports of 1,645 units which was a 9.12 percent MoM decline from 1,517 units shipped in Jan 2023. In the 350 cc segment, the RE Meteor also saw a YoY decline in exports by 24.65 percent to 1,009 units from 1,339 units shipped in Feb 2022 while MoM exports increased 59.40 percent over 633 units shipped in Jan 2023. Himalayan exports fell considerably to just 772 units in Feb 2023. This was a YoY and MoM decline of 62.29 percent and 21.46 percent over 2047 units and 983 units exported in Feb 2022 and Jan 2023 respectively.
Source: Bike - rushlane.com