Royal Enfield domestic sales for July 2019 is down 27 percent at 49,182 units sold last month. In July 2018, the company sold 67,001 units. Exports for the month stood at 5,003 units. That’s up at 143 percent growth from 2,062 units exported in July 2018. Cumulative sales in July 2019 stood at 54,185 units. Down 22 percent from 69,063 units sold in July 2018.
YTD sales are of the same shade. For the period of April – July 2019, domestic sales is reported at 2,23,612 units. This is down 22 percent from 2,86,726 units sold for the same 4 months last year. Exports for Apr – Jul 2019 is reported at 14,162 units.
This is up 84 percent from 7,698 units sold in the same four months in 2018. Cumulative sales stand at 2,37,774 units, down 19 percent from 2,94,424 units sold in Apr – Jul, 2018. At the end of Q1 FY2019-20, Royal Enfield sales decline was reported at 19.
From its export figures, it’s easy to see that the 650 Twins rare reaching new markets, and sales overseas, improving. In recent month, the 650 twins have been introduced in Indonesia, Vietnam, and Malaysia. The 650 Twins are doing well in India too. Royal Enfield is ramping up production to cater to demand for 650 Twins.
The company is also preparing for its BS-VI transition, mandated from April 1, 2020 and are on track to meet regulatory timelines. Royal Enfield will introduce new motorcycle variants in the coming months to widen its portfolio, to reach out to more customers.
Following the announcement of financial results for the Quarter ended June 30, 2019, Vinod Dasari, CEO Royal Enfield said, “The demand in two-wheeler industry remains weak due to slowing economic growth, tightening liquidity and regulation driven price increases, that have led to poor consumer sentiment. At Royal Enfield, we remain focused on our key priorities, which is to deepen our markets in India and to strengthen our position as a global consumer brand.”
While there’s been plenty of talk about dealership shutdown across the industry, Royal Enfield is focused on bringing to the fore it’s small studio store format. This will help the company reach new markets and audiences, and owing to its precise format will be at a lesser price commitment for dealer partners.