Royal Enfield sales in India and in global markets crossed the 4.47 unit mark showing off positive YoY growth in November 2023
Royal Enfield reported total sales (domestic + exports) of 80,251 units in November 2023 relating to a 13.40 percent YoY growth from 70,766 units sold in November 2022. This was a 9,485 unit volume growth. Improved sales were seen both in the company’s sub-350cc and above 350cc segments and in terms of domestic sales and exports. MoM sales on the other hand dipped by 4.96 percent from 84,435 units sold in October 2023.
Royal Enfield Sales up 13% in November 2023
In the sub-350cc segment that currently comprises the Bullet, Electra, Classic, Meteor and Hunter, sales grew by 12.61 percent YoY to 74,275 units in November 2023, up from 65,956 units sold in November 2022 to command a 92.55 percent share. It was however a MoM decline by 2.37 percent when compared to 76,075 units sold in October 2023.
The company’s larger bikes, that include the Himalayan, Super Meteor and 650 Twins, had 5,976 unit sales last month, relating to a 24.24 percent YoY growth. This was against 4,810 units sold in November 2022. MoM sales however fell by 28.52 percent from 8,360 units sold in October 2023.
Royal Enfield has seen strong domestic sales growth last month by 14.26 percent YoY to 75,137 units up from 65,760 units sold in November 2022. However, on a MoM basis, its sales dipped by 7.19 percent when compared to 80,958 units sold in October 2023.
Exports on the other hand showed promise both in terms of YoY and MoM sales growing 2.16 percent YoY and as much as 47.08 percent MoM to 5,114 units in November 2023. There had been 5,006 units and 3,477 units exported in November 2022 and October 2023 respectively.
Royal Enfield YTD Sales Apr-Nov 2023
Taking into account the company’s sales during the Apr-Nov 2023 period, a 13.45 percent YTD growth has been reported. Total sales (domestic + exports) stood at 6,21,672 units, up from 5,47,970 units sold in the same period of 2022.
It was the RE bikes in the sub-350cc segment that contributed most to total sales with 5,56,546 units sold in Apr-Nov 2023, up 16.10 percent from 4,79,366 units sold in Apr-Nov 2022. This was a 77,180 unit volume growth with an 89.52 percent share.
Bikes in the above 350cc segment suffered a setback by 5.07 percent to 65,126 units in the Apr-Nov 2023 period from 68,604 units sold in the same 8 month period last year. Share of >350cc bikes currently stands at 10.48 percent.
Even as domestic YTD sales grew by 18.63 percent to 5,72,982 units from 4,82,997 units, exports suffered a setback of 25.06 down to 48,690 units sold during Apr-Nov 2023 from 64,973 untis shipped in the same period last year.
Source: Bike - rushlane.com
