Royal Enfield reports growth in domestic sales and exports in January 2020
Royal Enfield has reported 5 percent YoY growth for total sales in January 2021. Sales is up at 68,887 units, up from 63,520 units at volume gain of 5,367 units. FY21 YTD sales is reported at 4,76,633 units at 20 percent decline from 5,96,609 units for the comparable 10 months in FY20. Volume loss stood at 1,19,976 units.
While Royal Enfield’s dominance in the 350cc segment in the domestic market is largely unchallenged, theres’s been some recent competition. Honda CB 350 was launched in recent months, and the brand is likely to launch a CB 350 based cafe racer in the next fortnight.
Royal Enfield exports in January 2021
For January 2021, exports account for 4,515 units, up at 103 percent from 2,228 units at volume gain of 2,287 units. Export volumes more than doubling last month is good news for the manufacturer.
In recent months, the brand has refocused its export goals, and is on a quest to be recognised as a top business house in the mid-size segment (250cc -750cc). FY21 YTD exports is down 17 percent at 28,192 units from 33,776 units at volume loss of 5,584 units.
On the export front, Royal Enfield has open its maiden store in Japan last month. Having appointed PCI Co as its distributor, the manufacturer now sells five of its motorcycles – Bullet 500; Classic 500; Himalayan (411cc); Int 650; and Continental GT 650 from its Suginami store in Tokyo. On this front too Honda is likely to put forward strong competition. Honda recently launched the CB350 in Japan.
Royal Enfield domestic sales YTD FY21
Domestic sales last month stood at 64,372 units at 5 percent growth from 61,292 units. Volume gain stood at 3,080 units. Of total sales, domestic sales accounted for 93.45 percent, and exports at 6.55 percent. MoM domestic sales fell by 1.71 percent. Volume loss stood at 1,120 units, down from 65,492 units.
MoM exports grew by 28.89 percent. Up at 1,012 units from 3,503 units exported in December 2020. MoM decline is marginal at .16 percent at loss of about 100 units, down from 68,995 units. YTD FY21 domestic sales decline is reported at 20 percent, down at 4,48,441 percent, down from 5,62,833 units. Volume loss stood at 1,14,392 units.
Of this, it’s the 350cc segment offerings that contribute to a lion’s share of domestic sales. The segment has in recent weeks benefited from the introduction of its Meteor motorcycle.
This isn’t the only 350cc segment offering the manufacturer has been readying over months. There’s the likelihood of what’s now commonly known as the Hunter roadster to be launched soon.