Royal Enfield domestic sales increased by 23.59 percent YoY while exports improved by 1.18 percent in Feb 2023
Royal Enfield sales in February 2023 improved both in terms of domestic sales and exports. The company which sells models such as the Hunter, Bullet, Classic and Meteor in the sub 350 cc segment as well as Himalayan, Scram 411, Interceptor 650, Continental GT 650 and Super Meteor 650 saw total sales (domestic + exports) at 71,544 units in Feb 2023. This was a 20.93 percent YoY growth over 59,160 units sold in Feb 2022. MoM sales dipped by 4.28 percent from 74,746 units sold in Jan 2023.
Royal Enfield Hunter 350 has contributed heavily to these sales. Launched in August 2022, sales have hit the 1 lakh unit sales milestone in 6 months making it the 2nd best-selling bike in the company portfolio after Classic 350. The company has also added some features and new colour options to the 650 Twins. 2023 Royal Enfield Continental GT and Interceptor are expected to launch soon.
Royal Enfield Sales Feb 2023
Of the total 71,544 units sold in the past month, domestic sales stood at 64,436 units, up 23.59 percent YoY when compared to 52,135 units sold in Feb 2022. On a MoM basis, domestic sales fell by 4.82 percent when compared to 67,702 units sold in Jan 2023.
Exports on the other hand, improved by 1.18 percent to 7,108 units in Feb 2023 from 7,025 units sold in Feb 2022. MoM exports also grew marginally by 0.91 percent from 7,044 units shipped in Jan 2023.
Majority sales came in from the company bikes in the sub 350cc segment. Sales stood at 64,810 units in Feb 2023, up 30.97 percent YoY from 49,484 units sold in Feb 2022 commanding a 90.59 percent share. MoM sales dipped 4.95 percent from 68,183 units sold in Jan 2023 relating to a 3,373 unit volume de-growth while share had stood at 91.22 percent.
Bikes of more than 350cc configuration suffered a YoY de-growth of 30.41 percent to 6,734 units in the past month from 9,676 units sold in Feb 2022. It was however a MoM growth of 2.61 percent from 6,563 units sold in Jan 2023. The RE Himalayan 450 has been spied undergoing test in Ladakh. It is expected to make its debut at the EICMA Show later this year with launch set for some time in November 2023.
RE Year-to-Date Sales and Exports
On a year to date (YTD) basis, Royal Enfield has seen outstanding growth both in terms of domestic sales and exports. Total sales in the April-Feb 2023 period stood at 7,62,660 units, up 42.66 percent from 5,34,591 units sold in the same period of 2022. This was a volume growth of 2,28,069 units.
Domestic sales improved by 45.85 percent to 6,74,956 units in FY2023 from 4,62,759 units sold in FY 2022. Exports also increased by 22.10 percent to 87,704 units in FY2023 from 71,832 units sold in the same period last year. Bikes in the sub 350cc segment contributed 6,73,582 units to total sales, up 49.50 percent when compared to 4,50,569 units sold in FY 2022 with an 88.32 percent share. The larger capacity bikes saw sales of 89,078 units in FY 2023. This was a 6.02 percent growth from 84,022 units sold in FY 2022 relating to a 5,056 unit volume growth and an 11.68 percent share.
Source: Bike - rushlane.com