The 350cc range of Royal Enfield, that constitutes the Classic 350, Bullet 350, Hunter 350 and Meteor 350, continued to command a bulk of domestic sales
Royal Enfield total sales (domestic + exports) stood at 75,935 units in February 2024, up from 71,544 units sold in February 2023. Taking into account the company’s domestic sales, it was a decent YoY growth in domestic markets with a 5.41 percent improvement while its MoM sales declined by 3.37 percent. Domestic sales stood at 67,922 units in the past month, up from 64,436 units sold in February 2023 while MoM sales dipped over 70,556 units sold in January 2024. Like clockwork, it was the company’s 350cc range that attracted a loyal customer base, to command a 92 percent share even as some models showed lower sales.
Royal Enfield Sales Breakup Feb 2024
Classic 350, a bike that is regaled for its retro styling, powerful engine and affordable price point along with comfortable ride quality has amassed the most sales last month. Sales stood at 28,310 units in February 2024, up 3.09 percent over 27,461 units sold in February 2023. It was a marginal 1.06 percent MoM growth from 28,013 units sold in January 2024 with the Classic 350cc commanding a 41.68 percent share in the company’s domestic portfolio. The RE Classic 350 was also at No. 9 on the list of top 10 motorcycle sales last month beating the Honda Unicorn by around 7,000 units.
There were 13,944 units of Bullet 350cc sold last month relating to a 4.52 percent YoY growth. Sales however, dipped significantly by 10.56 percent on a MoM basis from 15,590 units sold in January 2024. RE Hunter posed a YoY (-6.21%) and MoM (-10.45%) de-growth with 12,122 units sold last month while Meteor 350 has seen double digit growth of 21.30 percent to 8,125 units in February 2024 from 6,698 units sold in the same month last year. MoM sales grew by 9.52 percent over 7,419 units sold in January 2024.
Lower down the sales list was the RE Himalayan with both YoY and MoM decline in sales to 2,278 units in February 2024. It was the 650 Twins – Interceptor 650, Continental GT 650, that have posted outstanding growth of 76.92 percent on a YoY basis to 2,070 units in the past month from 1,170 units sold in February 2023. However, it was the relatively new RE Super Meteor that saw the highest MoM growth by 157.93 percent to 1,073 units from 416 units sold in January 2024.
RE Super Meteor Commands Export List in February 2024
RE exports last month improved both in terms of YoY (12.73%) and MoM (42.30%) to 8,013 units. There had been 7,108 units and 5,631 units shipped in February 2023 and January 2024 respectively. However, unlike domestic demand, it was the company’s above 350cc segment that drew more attention in global markets. Super Meteor topped the export list with 2,124 units exported last month, a MoM growth of a massive 286.18 percent from just 550 units shipped in January 2024. The Super Meteor now commands a 26.51 percent share in the company’s export portfolio.
High demand was also experienced for the RE Himalayan with triple digit growth at 102.07 percent YoY and 868.94 percent MoM to 1,560 units shipped in February 2024. The Himalayan, an adventure touring motorcycle, first launched in 2016, was recently updated to new gen. It has found a fan following among adventure seekers due to its rugged chassis capable of taking on challenging road conditions while at the same time offering high ground clearance.
There was the Classic 350 that also saw 1,283 units exported last month but these figures were a 25.88 percent decline over 1,731 units shipped in February 2023. MoM exports improved by 10.13 percent over 1,165 units in January 2024. Meteor 350 exports fell by 23.98 percent YoY and 6.20 percent MoM to 1,251 units.
Despite the fact that RE Hunter 350 has posted a 46.93 percent YoY decline in exports to 873 units, its MoM shipments grew by 79.63 percent over 486 units shipped in January 2024. The export list was trailed by the 650 Twins (601 units) and Bullet 350 (321 units) with the 650 Twins seeing significantly lower demand in global markets.
