Royal Enfield posted significant growth in domestic markets while exports suffered both YoY and MoM decline
Total Royal Enfield sales in the past month stood at an impressive 76,187 units out of which the company sold 70,556 units in domestic markets while 5,631 units were exported. It was the 6th best-selling two wheeler OEM after Hero, Honda, TVS, Bajaj and Suzuki. In domestic markets, it was the RE 350cc portfolio that led the list while in terms of exports, the 650 Twins reported the highest numbers.
Royal Enfield Sales Breakup Jan 2024
In domestic markets, sales stood at 70,556 units in January 2024, up 4.22 percent from 67,702 units sold in January 2023. This was a volume growth of 2,854 units. MoM sales also improved by 23.15 percent from 57,291 units sold in December 2023. It was the company’s 350cc models, which included the Classic, Bullet, Hunter and Meteor that commanded the highest sales. Out of these, the Bullet 350 is a recent addition but climbed to a No. 2 spot taking over the Hunter and Meteor by significant numbers.
Classic 350 sales were up 7.19 percent YoY to 29,013 units in January 2023 from 26,134 units sold in January 2023 to command a 39.70 percent share on this list. It was also a MoM growth of 31.93 percent from 21,234 units sold in December 2023. Bullet 350 has also shown off both YoY and MoM growth to 15,590 units last month, up 12.21 percent YoY and 23.66 percent MoM from 13,893 units and 12,607 units sold in January 2023 and December 2023 respectively.
RE Hunter 350 (13,536 units) and Meteor 350 (7,419 units) have both posted YoY decline in sales by 18.33 percent and 2.66 percent respectively. It was however a MoM growth by 15.64 percent and 22.20 percent. The new RE Himalayan 450, launched in November 2023 has been well received in Indian markets, though the same cannot be said about its exports. Himalayan sales improved by 33.25 percent YoY to 3,330 units as against 2,499 units sold in January 2023. However, it posted a marginal de-growth of 2.23 percent on a MoM basis from 3,406 units sold in December 2023.
There were also the 650 Twins that have seen its domestic sales grow by 129.80 percent YoY to 2,252 units from 980 units sold in January 2023 while MoM sales were higher by 38.58 percent over 1,625 units sold in December 2023. The RE sales list was trailed by the Super Meteor of which 416 units were sold last month, dipping 35.30 percent MoM from 643 units sold in December 2023.
RE Exports Suffer Setback in January 2024
Royal Enfield exports have dipped both on YoY and MoM basis by 20.60 percent and 7.63 percent respectively. There were 5,631 units exported last month as against 7,044 units shipped in January 2023 while there were 6,096 units exported in December 2023. Globally, it is the 650 Twins that sees highest demand with 1,858 units sold last month, an 11.57 percent YoY de-growth from 2,101 units exported in January 2023. However, its MoM performance improved by 16.34 percent from 1,597 units shipped in December 2023.
The Meteor 350 has also seen increased YoY growth by 86.10 percent to 1,178 units though its MoM sales dipped by 6.51 percent. Classic 350 exports also fell 23.20 percent YoY and 19.54 percent MoM to 1,165 units while the relatively recent addition of Super Meteor saw 550 units shipped last month relating to a Mom de-growth of 2.48 percent from 564 units shipped in December 2023.
Every other model in the company portfolio has shown off a decline in exports with Hunter 350 down 73.15 percent to 486 units last month from 1,810 units exported in January 2024. MoM exports also fell by 25.91 percent from 656 units shipped in December 2023. Hunter (486 units), Bullet 350 (233 units) and Himalayan (161 units) also posted MoM decline in exports.
Source: Bike - rushlane.com
