Royal Enfield marches on as market leader despite YoY and MoM decline in in 350 cc segment December sales, Hunter bucks trend
In December 2022, 57,460 units of 350cc motorcycles were sold in India. This marked a 3.66 percent decrease from the previous year’s sales of 59,646 units. Volume loss stood at 2,186 units. Classic 350 was the top seller with 20,682 units sold, accounting for 35.99 percent of total sales. However, this was a significant drop of 40.44 percent YoY. Down from 34,723 units, volume loss was high at 14k units.
Classic 350 has been a popular choice among Royal Enfield enthusiasts for years. Despite YoY decline in sales it still holds the highest market share among all of RE’s 350cc motorcycles. This can be attributed to its retro design and timeless appeal.
350cc Motorcycle Sales Dec 2022
Hunter 350 continued to write its story of a strong debut with 17,261 units sold, accounting for 30.04 percent of total sales. Since launch, it’s proven to be a strong seller for the company. Bullet 350, with its iconic design and reliable performance, continues to be a popular choice among buyers, with sales improving from 8,061 units to 8,816 units.
However, the Meteor 350 has seen a decline in sales, falling from almost 11k units to 6,298 units, which may be attributed to increased competition from the Hunter 350. RE Electra 350, and Honda CB 350 models have also seen a 25.22 percent and 25.07 percent decline in sales respectively. Sales of the Electra 350 fell from 4,521 units to 3,381 units. Honda CB 350 sales fell from 1,364 units to about 1k units.
In comparison, 350cc models saw a 10.77 percent decrease in MoM sales, down from 64,397 units. Classic 350 saw a 22.55 percent decrease in MoM sales, down from 26,702 units sold. Hunter 350 saw a 10.73 percent increase in MoM sales, up from 15,588 units. Bullet 350 saw a 7.37 percent increase in MoM sales, up from 8,211 units.
YoY and MoM sales decline
Meteor 350 saw a 18.14 percent decrease in MoM sales, down 7,694 units. Electra 350 saw a 18.92 percent decrease in sales MoM with 3,381 units sold. RE Electra 350, and Honda CB 350 saw a MoM decline of 18.92 percent and 49.70 percent.
When comparing December 2022 sales data to the previous month, decline in sales is reported at almost 7k units. Down from 64,397 units MoM. However, it’s worth noting that Hunter 350 currently resides in a predominantly green zone. This suggests that the new model may have helped boost overall segment sales, as well as Royal Enfield’s sales.
It’s worth noting that Jawa Yezdi sold (retail) 2,681 units in December 2022, marking 7.93 percent YoY increase. YoY sales were up from 2.5k units. However, it saw a 27.01 percent decrease in MoM, down from 3,673 units. In comparison to Jawa Yezdi, a rival brand in the mid-segment market, Royal Enfield maintains its dominance in the market. The same holds true in reference to Honda’s 350cc product portfolio. However, with YoY and MoM decline across most models in December 2022, it’s clear that competition needs to be spruced up despite Royal Enfield’s overarching segment lead.
