Royal Enfield sales dropped 7.51% YoY and 7.54% MoM to 67,625 units in July 2024 – Newly launched Guerrilla 450 and upcoming Classic 350 expected to boost sales this month
Royal Enfield sales for July 2024 ended on a dismal note. The company has reported negative sales both in terms of YoY and MoM while its year-to-date (YTD) sales were also in the red.
Royal Enfield Sales July 2024 – YoY, MoM
Royal Enfield has seen its sub-350cc bikes suffer lower demand in July 2024. Sales of the Classic, Bullet, Hunter and Meteor motorcycles dipped by 11.57% to 56,590 units last month from 64,398 units sold in the year-ago period. These 350cc bikes command an 84.21% share in the company lineup. However, sales of the bikes that fall within the 450-650cc range among which are Himalayan 450 and Shotgun 650 along with the 650cc Twins gained in terms of sales by 22.43% to 10,676 units last month, over 8,719 units sold in July 2023.
Domestic sales suffered a 6.80% setback to 61,568 units in the past month from 66,062 units sold in July2023 while exports also fell by 14.15% down 998 units to 6,057 units from 7,055 units sold in July 2023. This took total sales last month down 7.51% to 67,625 units over 73,117 units sold in July 2023.
On a month-on-month (MoM) basis as well, the company faced setbacks both in domestic and export markets. Total sales dipped 7.54% over 73,141 units sold in June 2024 relating to a 5,516 unit volume de-growth. Sales in the sub 350cc segment dipped 7.35% from 61,465 units and sales of larger bikes suffered an 8.57% MoM decline. While domestic sales dipped 6.88%, exports also fell 13.77% over 7,024 units shipped in June 2024.
Royal Enfield YTD Sales April-July 2024
Royal Enfield has also posted lower sales on a year-to-date basis. Sales of bikes in the sub-350cc segment fell by 6.02% to 2,50,773 units during the period April-July 2024 while the company had sold 2,66,828 units in the corresponding period last year. It was the company’s larger bikes that gained some traction with a 27.66% YTD growth to 43,399 units in the April-July 2024 period from 33,995 units sold last year during the same months.
Domestic sales however, fell by 2.69 percent to 2,65,894 units while exports showed off a 2.49% improvement to 28,278 units. The company’s total YTD sales thus finished down 2.21% to 2,94,172 units in the April-July 2024 period while sales had surpassed the 3 lakh unit mark during the same period of 2023 with 3,00,823 unit sales.
New Launches, Upcoming Plans
In July 2024, the company introduced the new Guerrilla 450. It is a premium modern roadster that is priced from Rs 2.39 lakh (ex-showroom). RE Guerrilla 450 is offered in Analogue, Dash, and Flash variants, is based on the Sherpa 450 platform. It competes with the Triumph Speed 400 and Hero Mavrick 440 in its segment. In the larger segment, the company is actively testing the new Himalayan 650cc, Bullet 650, Classic 650 and INT Bear Scrambler 650 – all have been spied.
Source: Bike - rushlane.com
