Royal Enfield models with engine capacity up to 350cc witnessed improved sales both on YoY and MoM basis
Royal Enfield sales (domestic + exports) in September 2023 stood at 78,580 units. This was a 4.28 percent YoY decline when compared to 82,097 units sold in September 2023. It resulted in a dip of 3,517 units. MoM sales, however, ended more positively with a 1.29 percent improvement over 77,583 units sold in August 2023.
Royal Enfield YoY and MoM sales in September 2023
It was the company’s models in the upto 350cc segment that saw more demand. Sales increased 9.56 percent YoY to 70,345 units in September 2023, up from 64,206 units sold in September 2022. This was a 6,139 unit volume growth with an 89.52 percent share. In this segment, the company recently introduced the new 2023 Bullet 350.
It comes in with striking similarities to its current counterpart but receives some changes in the form of new colour options, a revised frame and some styling updates along with an engine that also powers the Classic 350, Hunter 350 and Meteor 350. In the above-350cc segment, the company sells models such as the Super Meteor 650, Scram 411 and the 650 Twins.
Sales grew by 4.36 percent YoY to 8,235 units from 7,891 units sold in September 2022. It was however a 3.80 percent MoM decline as compared to 8,560 units sold in August 2023. This segment currently commands a 10.48 percent share. Total domestic sales thus grew by 0.84 percent YoY to 74,261 units from 73,646 units sold in September 2022 while it improved on a MoM basis by 7.02 percent as compared to 69,393 units sold in August 2023.
Exports on the other hand suffered both a YoY and MoM decline. It dipped 48.89 percent YoY to 4,319 units from 8,451 units shipped in September 2022 while MoM exports fell by 47.26 percent when compared to 8,190 units shipped in August 2023.
Royal Enfield Year-to-Date Sales and Exports
In the period of FY24, Royal Enfield total domestic sales and exports stood at 4,56,986 units, up 15.70 percent from sales of 3,94,969 units sold in the same period of FY23. This related to a 62,017 unit volume growth.
Sales of bikes in the sub 350cc segment improved by 19.97 percent to 4,06,196 units in FY24 from 3,38,582 units sold in FY23. In the higher-than-350cc segment, sales dipped 9.93 percent to 50,790 units from 56,387 units sold in FY23. Taking only domestic sales into account, company’s recorded a 22.36 percent YTD growth to 4,16,887 units in FY 24 from 3,40,709 units sold in the same period of FY23.
However, Royal Enfield saw its exports slump in the first half of this fiscal as exports dipped 26.10 percent down to 40,099 units in FY24 from 54,260 units sold in FY23.
Source: Bike - rushlane.com