Royal Enfield that commands the 350cc to 450cc motorcycle segment, showed off healthy performance both on a YoY and MoM basis but declining YTD sales
Royal Enfield, a leader in the 350cc to 450cc motorcycle segment, showed off strong performance in Sept 2024. Sales in the past month grew on all counts on a YoY basis. However, while assessing above-350cc range and exports, the company suffered a setback in MoM sales.
Royal Enfield – YoY and MoM Sales Sept 2024
Royal Enfield total sales (domestic + exports) stood at 86,978 units in Sept 2024. This was a 10.69% growth from 78,580 units sold in Sept 2023 relating to an 8,398 unit volume growth. MoM sales on the other hand showed off an 18.13% growth over 73,629 units sold in August 2024.
It was the company’s sub-350cc range that includes the likes of the Classic, Hunter, Bullet and Meteor, that commanded most attention with 75,331 unit sales to garner a 7.09% YoY growth from 70,345 units sold in Sept 2023. Motorcycles in this segment hold an 86.61% share while MoM sales also grew by 23.32% from 61,087 units sold in August 2024.
The higher performance bikes (above 350cc) in the company portfolio among which are the 650 Twins, Himalayan, new Guerrilla, Shotgun and Super Meteor, saw a 41.43% YoY improvement in demand. Sales grew to 11,647 units in the past month from 8,235 units sold in Sept 2023. MoM sales however, declined by 7.14% from 12,542 units sold in August 2024.
Total domestic sales thus saw a 6.82% YoY and 20.88% MoM growth to 79,326 units in Sept 2024. There had been 74,261 units and 65,623 units sold in Sept 2023 and August 2024 respectively. Exports on the other hand, though they improved tremendously by 77.17% on a YoY basis to 7,652 units in Sept 2024 from 4,319 units shipped in Sept 2023, they suffered a 4.42% MoM setback with lower global demand over 8,006 units exported in August 2024.
Q3 2024 and YTD Performance Declines
Q32024 saw Royal Enfield report a marginal decline in sales by 0.46%. Sales fell to 2,28,232 units in the past quarter from 2,29,280 units sold in the same period of the previous year. It was the sub-350cc range that witnessed lower demand by 5.10% to 1,93,368 units while bikes in the above 350cc segment saw a surge in demand by 36.65% to 34,864 units. In this segment, Royal Enfield will launch multiple new motorcycles – Himalayan 650, Classic 650, Bullet 650, Scrambler 650.
Domestic sales fell short by 1.53% to 2,06,517 units, down from 2,09,716 units sold in the Q3 2023 period while exports saw a 10.99% growth with 21,715 units exported in the past quarter. This was a 2,151 unit volume increase from 19,564 units shipped in Q3 2023.
Year-to-Date (YTD) sales also fell by 0.48% to 4,54,779 units in the period of April to Sept 2024. This was over 4,56,986 units sold in the same period of the previous year. Once again it was the sub-350cc range that saw lower demand by 4.68% to 3,87,191 units while motorcycles in the above 350cc segment experienced higher demand by 33.07% to 67,588 units. Domestic sales also fell by 1.45% to 4,10,843 units while exports improved to 43,936 units, a 9.57% growth from 40,009 units sold in the YTD FY24 period.
Source: Bike - rushlane.com
