Royal Enfield sales and exports for the month May 2023 stood on a positive note in both YoY and MoM analysis in domestic market – While exports took a hit YoY
The Chennai-based motorcycle manufacturer has unprecedented popularity in classic and retro motorcycles both here in India and abroad. With a slew of 350cc, 650cc and 411cc motorcycles, Royal Enfield pretty much has a motorcycle for everyone. The company will introduce a new 450cc platform that will take sales figures even higher.
The highest selling range in Royal Enfield’s portfolio is 350cc. There are a multitude of 350cc bikes in the portfolio including Bullet 350, Classic 350, Hunter 350 and Meteor 350. Together, Royal Enfield sold 69,038 units of 350cc bikes. Compared to 53,835 units sold a year ago, RE saw 28% YoY growth.
Royal Enfield Sales May 2023
YTD sales till May 2023 include 1,33,766 units which is 27% higher YoY over 1,05,399 units sold between Apr 2022 – May 2022. While the 350cc business is booming, Royal Enfield saw a slight setback in 350cc+ motorcycles. These includes the 411cc Himalayan and Scram along with Interceptor 650, Continental GT 650 and Super Meteor 650.
This setback accounted for 14% YoY decline as Royal Enfield sold 8,423 units of 350cc+ motorcycles last month as opposed to 9,808 units a year ago. This trend persisted with YTD numbers too. Royal Enfield sold 16,831 units of 350cc+ bikes between April 2023 and May 2023, which was 17% less than 20,399 units it sold in the same period a year ago.
In total, Royal Enfield managed to sell 77,461 units (350cc + 411cc + 650cc). With the highly popular 350cc motorcycles lift the numbers, Royal Enfield showed an overall 22% YoY growth as opposed to 63,643 units sold in May 2022. YTD sales demonstrated a strong 20% YoY growth with around 25K units gained in volume.
Exports for the month May 2023
Royal Enfield’s exports didn’t show the same growth that the company demonstrated in the domestic market. In fact, there was no growth at all. Instead, Royal Enfield lost 34% in exports YoY. The company shipped precisely 6,666 units last month, which was not enough to surpass 10,118 units shipped a year ago.
In YTD analysis, this effect is even pronounced as there was 41% YoY decline. The company sold 10,921 units between April 2023 and May 2023 and in the same period last year, the company sold 18,421 units. That said, Royal Enfield has performed better than it did in April 2023 with 68,881 units sold in domestic market and 4,255 units shipped globally.
Royal Enfield CKD operations in Nepal
Royal Enfield has announced a new CKD facility in Nepal. This is RE’s 5th CKD unit outside of India – after Brazil, Thailand, Colombia and Argentina. RE Nepal plant will have a capacity to assemble 20k units annually. Operations will start with the assembly of Classic 350 and Sram 411. The modern facility is spread over 1 lac sq ft and will cater to growing demand in Nepal.
Source: Bike - rushlane.com
