Royal Enfield has posted both a YoY and MoM growth in domestic sales while Exports fell on a YoY basis
Royal Enfield, a leader in the 350cc motorcycle segment in India has posted significant growth in terms of total sales (domestic + exports). Sales on a YoY basis improved to 77,461 units in May 2023 from 63,643 units sold in May 2022. Currently commanding the 350 cc segment in India, the company has also announced the launch of 13 new motorcycles over coming years as a part of their 4 motorcycles per year plan the next 3-4 years.
Sales in domestic markets grew both on a YoY and MoM basis in May 2023. RE Sales stood at 70,795 units in May 2023, up 32.27 percent when compared to 53,525 units sold in May 2022. This was a volume growth of 17,270 units. MoM sales also saw an increase of 2.78 percent from 68,881 units sold in April 2023.
Royal Enfield Sales Breakup May 2023
Though posting YoY and MoM de-growth, the Classic 350 led the domestic sales list with 26,350 units sold in the past month, down 12.05 percent as against 29,959 units sold in May 2022. MoM sales also fell by 1.61 percent as there had been 26,781 units sold in April 2023. This led to a fall in share to 37.22 percent from 38.88 percent MoM. The RE Classic 350 was at No. 8 on the list of top 10 best selling motorcycles in May 2023.
Hunter 350, a relatively newcomer to the company portfolio following its launch in August 2022, sales stood at 18,869 units last month, a MoM growth of 19.43 percent from 15,799 units sold in April 2023. Hunter 350 also recently in Feb 2023 achieved a milestone sales pitch of 1 lakh sales recorded in 6 months of launch.
While Bullet 350cc sales increased YoY to 8,314 units from 6,958 units sold in May 2022, it was a MoM de-growth of 1.01 percent over 8,399 units sold in April 2023. RE Meteor 350 sales fell YoY and MoM to 7,024 units while Electra 350 posted 15.84 percent YoY and 15.53 percent MoM growth to 4,366 units in the past month.
In the larger displacement segment, RE models such as the Himalayan also saw YoY and MoM growth to 4,064 units while sales of the 650 Twins dipped 28.52 percent YoY to 970 units and also 47.99 percent MoM. RE Super Meteor was launched in Jan 2023. It accounted for 838 unit sales in May 2023 while MoM sales dipped by 26.43 percent from 1,139 units sold in April 2023.
Royal Enfield Exports May 2023
It was a 34.12 percent YoY de-growth in exports to 6,666 units in May 2023 from 10,118 units sold in May 2022. MoM performance improved by 56.66 percent from 4,255 units shipped in April 2023.
It was the RE Classic 350 that also commanded the export list with 1,526 units shipped last month, a 45.09 percent YoY de-growth but 23.16 percent improvement on a MoM basis. It was followed by the Super Meteor that saw 1,322 units shipped in May 2023 while Hunter 350 also saw a total of 1,296 units exported last month.
There were also 1,293 units of RE Meteor 350 exported in May 2023 relating to a 40.17 percent YoY de-growth but 128.85 percent MoM improvement. The export list also included RE 650 Twins (694 units and Himalayan (535 units) out of which 650 Twin exports fell on YoY basis by 86.60 percent but improved practically two fold over 363 units sold in April 2023.
Source: Bike - rushlane.com
