Royal Enfield has reported a decline in sales for May 2024 – Decline is of 12.25%, down to 64k units against 73k same month last year
In May 2024, Royal Enfield experienced a nuanced sales performance, as reflected in the recently released figures. The total sales for the month stood at 71,070 units, marking an 8.25% decline compared to May 2023’s 77,461 units.
Royal Enfield Sales Decline May 2024
The sales of Royal Enfield motorcycles with engine capacities under 350cc saw a significant downturn. This segment sold 59,852 units in May 2024, down from 69,038 units in the same month last year, registering a decline of 13.31%. Despite this drop, the under 350cc segment continued to dominate the brand’s portfolio, accounting for 84.22% of the total sales.
In contrast, the above 350cc segment showed robust growth. Sales in this category jumped by 32.47%, with 11,158 units sold in May 2024 compared to 8,423 units in May 2023. This segment represented 15.70% of the total sales for the month, indicating a growing preference for higher-capacity motorcycles among consumers.
Domestic Sales: Royal Enfield’s domestic market witnessed a downturn, with sales falling by 12.25%. The company sold 64,238 units domestically in May 2024, down from 73,206 units in the previous year. The domestic market accounted for 90.39% of the company’s total sales.
Exports: On a brighter note, exports surged dramatically. The company exported 6,832 units in May 2024, a substantial increase of 60.56% from 4,255 units in May 2023. The export market constituted 9.61% of the total sales, reflecting Royal Enfield’s expanding international footprint.
YTD Sales Performance
Royal Enfield has released its financial year-to-date (FYTD) performance figures for FY25, showcasing a mixed but steady overall growth compared to the same period in FY24. The company sold a total of 1,52,880 units in April and May 2024, marking a 1.52% increase from the 1,50,597 units sold during the same period last year.
Under 350cc Segment: Sales of Royal Enfield motorcycles with engine capacities under 350cc experienced a slight year-on-year decline. This segment, featuring models like the Bullet, Classic, Hunter, and Meteor, sold 1,32,718 units in FY25 YTD, down by 0.75% from 1,33,716 units in FY24 YTD. Despite this minor drop, the under 350cc segment continued to represent a significant portion of total sales at 86.81%.
Above 350cc Segment: The above 350cc segment demonstrated robust growth, with sales increasing by 19.79%. The segment, which includes the Himalayan 450, Scram 411, 650 Twins, and Super Meteor 650, sold 20,162 units in FY25 YTD, up from 16,831 units in FY24 YTD. This segment now accounts for 13.19% of the total sales, indicating a strong consumer preference for higher-capacity motorcycles.
Domestic sales saw a slight decline, with 1,38,569 units sold in FY25 YTD, compared to 1,39,676 units in FY24 YTD, reflecting a 0.79% decrease. Despite this, the domestic market remains dominant, contributing 90.64% of total sales. Exports showed impressive growth, with sales increasing by 31.04%. Royal Enfield exported 14,311 units in FY25 YTD, up from 10,921 units in FY24 YTD. The export market now makes up 9.36% of total sales, demonstrating the brand’s expanding global reach.
Source: Bike - rushlane.com
