Royal Enfield has posted a sharp 42 percent growth in domestic sales while exports dipped 22 percent YoY in July 2023
Royal Enfield has reported a 31.61 percent YoY growth in sales in July 2023. Total sales (domestic + exports) stood at 73,117 units in the past month, up from 55,555 units sold in July 2022. This was a 17,562 unit volume growth.
Royal Enfield has a premium lineup of bikes both in the sub 350cc and above 350cc segments. These include the Hunter 350, Classic 350, Meteor 350 cruiser and the Bullet 350. There is also the Super Meteor 650, Interceptor 650 and Continental GT 650 in the company lineup along with the Himalayan and Scram 411 ADV. The company also gears up for launch of the new-gen Bullet 350 and Himalayan 450.
RE YoY Sales July 2023
Royal Enfield sales saw the 350cc segment saw a 5.42 percent YoY de-growth. Sales dipped to 8,719 units in July 2023, down 500 units when compared to 9,219 units sold in July 2022 to claim an 11.92 percent share. Exports also fell significantly by 21.84 percent YoY to 7,055 units in July 2023 from 9,026 units shipped in July 2022 relating to a volume de-growth of 1,971 units. Exports share currently stands at 9.65 percent.
On a month on month basis (MoM), Royal Enfield has seen total (domestic + exports) sales fall 5.18 percent as sales had stood at 77,109 units in June 2023. 350cc segment bikes MoM sales declined by 6.21%. MoM sales of the 350cc+ bikes increased by 3.24 percent. While there had been 8,445 units sold in June 2023, sales increased to 8,719 units in July 2023.
This took total domestic sales down 2.12 percent on a MoM basis from 67,495 units sold in June 2023. Exports also suffered a de-growth of 26.62 percent from 9,614 units shipped in June 2023 relating to a dip in volumes by 2,559 units.
Royal Enfield has seen sales of its Hunter 350cc cross the 2 lakh unit mark. This is particularly noteworthy as this milestone has been crossed in under 12 months of launch. Hunter 350 was launched in August 2022 and achieved its first milestone of 1 lakh units in February 2023, 6 months after launch. The next 1 lakh units have been completed in 5 months.
Upcoming launches
There are 13+ Royal Enfield models set to be launched in the coming years, out of which the Bullet 350 will launch on 30th August 2023. Recently RE released a teaser of new Bullet’s exhaust note. Apart from feature updates, the Bullet 350 will also receive a new engine that currently powers the Classic 350, Hunter 350 and Meteor 350.
Source: Bike - rushlane.com
