Royal Enfield sales remained strong in August 2023 reporting a YoY and MoM growth both in terms of domestic sales and exports
Royal Enfield, a competent manufacturer of both classic and retro-styled motorcycles, has seen significant growth in terms of sales in August 2023. The company did well both where its sales within the country and to international markets were concerned. If we take 300cc to 400cc segment, Royal Enfield absolutely dominated this space with over 85% market share.
RE Domestic Sales August 2023
Sales (domestic + exports) in the past month stood at 77,412 units up from 70,112 units sold in August 2022. In domestic markets, it was the 350cc range that commanded the most attention while its international sales saw the Hunter 350, Super Meteor and Classic 350 among the most in demand.
Royal Enfield has reported sales of 69,393 units in August 2023. This was a 10.34 percent YoY growth over 62,892 units sold in August 2022 relating to a 6,501 unit volume growth. It was the RE Classic that commanded sales charts with 26,118 units sold last month. This was a 37.51 percent YoY growth over 18,993 units sold in August 2023. MoM sales also improved by 4.94 percent from 24,889 units sold in July 2023. The RE Classic 350 was also on the list of top 10 motorcycles sold in August 2023.
Sales of the RE Hunter 350 dipped both on YoY and MoM basis to 14,161 units. It was a 22.18 percent YoY de-growth from 18,197 units sold in August 2022 while MoM sales fell by 20.50 percent from 17,813 units sold in July 2023. The Bullet 350 has seen outstanding sales growth in August 2023. Sales went up by 65.45 percent YoY to 12,604 units from 7,618 units sold in August 2022 while MoM sales escalated by an astronomical 137.23 percent from 5,313 units sold in July 2023.
The 2023 RE Bullet 350 comes in with a host of new features and better safety equipment and can be made even more exciting with a total of 37 Genuine Motorcycle Accessories. Royal Enfield saw its Meteor 350 sales decrease YoY by 7.86 percent to 8,626 units while MoM sales improved by 4.65 percent from 8,243 units sold in July 2023. Himalayan sales grew by 19.38 percent YoY and 21.60 percent MoM to 3,856 units.
There had been 3,230 units and 3,171 units sold in August 2022 and July 2023 respectively. Electra 350 (2,374 units), Super Meteor (1,104 units) and 650 Twins (550 units) each posted a MoM de-growth.
RE Exports August 2023
The company’s international sales accounted for a total of 8,019 units in August 2023. This was an 11.07 percent YoY and 13.66 percent MoM growth. It was the Hunter 350 that saw the most demand in global markets with 3,527 units sold in the past month. This was an outstanding 4421.79 percent YoY growth over just 78 units shipped in August 2023 while MoM exports rose by 350.45 percent from 783 units shipped in July 2023.
RE Super Meteor 650 which was launched in January 2023 was at No. 2 on the export list with 1,609 units exported in the past month relating to a 51.51 percent MoM growth. Thereafter, Royal Enfield has reported a YoY de-growth in exports of the Classic 350 (1,201 units), 650 Twins (1,112 units), Meteor 350 (412 units) and Himalayan (329 units). However, it was only the 650 Twins that showed a 40.76 percent MoM growth from 790 units sold in July 2023.
Source: Bike - rushlane.com
