Iconic motorcycle brand, Royal Enfield, has ended the first month of year 2024 with positive overall sales prospects registering growth across YoY, MoM and YTD charts. The total Royal Enfield motorcycles sold last month stood at an impressive 76,187 units with 350cc portfolio being the primary contributor.
The company’s 350cc portfolio includes the ever-green Bullet 350, Hunter 350, Meteor 350 and ever-popular Classic 350. Bullet 350 was the latest addition, but Classic 350 is by far the best-selling one with unprecedented popularity. Together, Royal Enfield sold 67,620 350cc motorcycles in January 2024.
When compared to 68,183 units sold last year, there was a slight 0.83% YoY decline, losing 563 units in volume. 350cc motorcycles constituted 88.76% of Royal Enfield’s total sales last month. Speaking of MoM performance, the 67,620 350cc motorcycles outsold 55,401 units sold in December 2023.
This was a 22.06% MoM growth, resulting in 12,219 units of volume gain YoY. This is an expected behaviour in sales at the beginning of a new year. Followed by 350cc motorcycles, we have Royal Enfield’s 411cc, new 450cc and 650cc motorcycles that come under the same umbrella.
Together, this umbrella accounted for a 11.24% of Royal Enfield’s total sales with 8,567 units sold, which is a 30.53% YoY growth over 6,563 units sold last year and a 7.28% MoM growth over 7,986 units sold a month before. Volume growth stood at 2,004 units YoY and 581 units MoM.
Royal Enfield’s total domestic sales stood at 70,556 units in January 2024, which is a 4.22% YoY growth over 67,702 units sold a year ago and an impressive 23.15% MoM growth over 57,291 units sold a month before. Volume gain stood at 2,854 units YoY and 13,265 units Mom. Domestic numbers account for 92.61% of Royal Enfield’s total sales.
On the contrary, exports accounted for 7.39% of Royal Enfield’s total sales with 5,631 units. This is a 20.6% YoY decline when compared to 7,044 units shipped in Jan 2023. There was a 7.63% MoM decline too as RE shipped 6,096 units a month before.
In total, Royal Enfield pushed out 76,187 units, which was a 1.93% YoY growth over 74,746 units sold in January 2023 and a 20.19% MoM growth over 63,387 units sold in December 2023. Volume growth stood at 1,441 units YoY and 12,800 units MoM.
YTD, Royal Enfield sold 6,79,567 units of 350cc portfolio, which was a 11.63% positive growth over 6,08,772 units sold in FY23, with a volume growth of 70,795 units. Motorcycles over 350cc accounted for 81,679 units with 0.81% YoY decline. Total domestic numbers stood at 7,00,829 units with 14.79% YoY growth.
The 60,417 units of exports accounted for a 25.04% YoY decline when compared to numbers from FY23. In total, Royal Enfield’s YTD sales for FY24 stood at 7,61,246 units with a 10.15% positive growth and 70,130 units gained in volume YoY.