Royal Enfield’s domestic sales grow 34% in June, backed by 350 cc motorcycles

Royal Enfield’s domestic sales grow 34% in June, backed by 350 cc motorcycles

Royal Enfield reported its sales for June 2023 and the company’s domestic sales stood at 61,407 units, growing by 34 per cent when compared to 50,265 units sold in June 2022. Cumulative sales (domestic + exports) stood at 77,109 units last month, growing by 26 per cent over 61,407 units sold last year during the same period.

By: HT Auto Desk
| Updated on: 01 Jul 2023, 20:06 PM

Royal Enfield’s 350 cc range remains its major contributor with nearly 90% of volumes, while sales of models between 350-650 cc declined by 23% last month (Sabyasachi Dasgupta/HT Auto)

Royal Enfield’s strong volumes were backed by its 350 cc motorcycle range comprising the Bullet, Hunter, Classic, and Meteor models. The company sold 68,664 350 cc motorcycles in June this year, a growth of 36 per cent over 50,405 units sold during the same period last year. In comparison, motorcycles between 350-650 cc witnessed a decline in volumes of 23 per cent with just 8,445 units sold, as against 11,002 units sold a year ago. Exports were on a decline as well with 9,614 units shipped overseas in June 2023, a drop of 14 per cent over 11,142 units sold in June 2022.

(Watch: Royal Enfield Himalayan 450 caught in action ahead of launch)

Speaking about the sales performance, B Govindarajan, CEO, Royal Enfield said, “At Royal Enfield, it has been our constant endeavour to create products and experiences that excite our consumers and our recent performance is a testament to the fact that we have been able to do that well. I am thrilled to share that we continued our stellar growth momentum in FY24 and have registered our highest-ever sales for the first quarter; beating our previous high of Q1FY19. Our recent products continue to perform well across India and International markets and we are optimistic that our exciting line-up of motorcycles will definitely enthral the pure motorcycling enthusiasts across the globe.”

That said, Royal Enfield also recorded its best-ever performance in Q1 FY2024. The company’s year-to-date volumes (April – June 2023) stood at 227,706 units, growing by 22 per cent year-on-year, as opposed to 187,205 units sold during the same period in FY2023. Domestic sales contributed 207,171 units during this period, an uptick of 31 per cent in volumes from 157,642 units in FY2023. On the other hand, exports declined by 31 per cent to 20,535 units, down from 29,563 units last fiscal.

Royal Enfield’s lean exports come despite the inauguration of its new CKD facility in Nepal. This marked the company’s fifth global CKD assembly plant outside of India as the manufacturer continues aggressive expansion in global markets. The manufacturer is now gearing up to introduce the Himalayan 450, which was recently teased and is said to make its debut later this year.

First Published Date: 01 Jul 2023, 20:06 PM IST

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Author: Shirley