Royal Enfield has posted a YoY de-growth in domestic sales while exports increased significantly
Royal Enfield sales (domestic + exports) in March 2022 showed off a 2.45 percent increase. Total sales during the past month stood at 67,677 units. This included 58,477 units sold in domestic markets and 9,200 units which were exported. This was an increase over 66,058 units (domestic + exports) sold in March 2021. Even as the company noted higher demand for its 350cc range in Indian markets, globally it was larger bikes such as the Himalayan and 650 Twins that received more response from buyers.
Royal Enfield has reported a 2.82 percent de-growth in YoY sales. Sales which had stood at 60,173 units in March 2021 dipped to 58,477 units in March 2022. MoM sales on the other hand improved by 12.16 percent from 52,135 units sold in February 2021.
Royal Enfield Sales March 2022 – Classic 350 Tops
The domestic sales list was dominated by the company’s 350cc lineup that included Classic, Meteor, Electra and Bullet. Classic 350 sales increased 3.16 percent to 32,694 units in the past month, from 31,694 units sold in March 2021. This was a 1,000 unit volume growth with the Classic 350 commanding a 55.91 percent share. MoM sales also noted an 8.68 percent increase from 30,082 units sold in February 2022.
RE Bullet 350 saw its sales dip 14.55 percent to 8,283 units in March 2022, down from 9,693 units sold in March 2021. Share percentage stood at 14.16 percent. MoM sales improved 28.78 percent from 6,432 units sold in February 2022. The company is also readying the 2023 Bullet 350 that has been spied on test rounds. It does show off some feature upgrades while engine specs could also see some change.
Third on the list of domestic sales was the Meteor 350 with sales of 6,589 units, down 37.82 percent as compared to 10,596 units sold in March 2021.Meteor 350 saw its MoM sales fall by 2.37 percent over 6,749 units sold in February 2022. Sales of Himalayan improved significantly on a YoY basis to 5,225 units which was an 80.30 percent growth from 2,898 units sold in March 2021. MoM sales also saw similar growth at 75.51 percent from 2,977 units sold in February 2022.
RE Electra posted a YoY de-growth of 9.24 percent to 4,460 units in March 2022 even as its MoM sales improved 30.18 percent from 3,426 units sold in February 2022. The 650 Twins saw a 224.34 percent YoY growth to 1,226 units in March 2022, up from 378 units sold in March 2021. MoM sales however dipped 50.34 percent from 2,469 units sold in February 2022. RE 650 Twins commanded a top spot in the 500cc+ motorcycle space by a significant margin over the Ninja, CBR and Tiger 650.
Royal Enfield Exports March 2022
Exports increased both on YoY and MoM basis with the Himalayan, Classic 350 and 650 Twins commanding the list. Total exports in the past month stood at 9,200 units, up 56.33 percent over 5,885 units shipped in March 2021. MoM exports improved 30.96 percent from 7,025 units sold in February 2022. Himalayan exports stood at 3,476 units, up 87.18 percent from 1,857 units sold in March 2021. RE Himalayan commands a 37.78 percent share on the export list. MoM sales also improved 69.81 percent from 2,047 units shipped in February 2021.
The second best model in the company lineup in terms of exports was Classic 350 with a 280.12 percent YoY growth to 2,581 units, up from 679 units sold in March 2021. MoM exports improved by 77.27 percent from 1,456 units sold in February 2022. Even as 650 Twins and Meteor 350 posted a YoY growth of 18.88 percent and 17.53 percent respectively to 2,097 units and 1,046 units, MoM exports fell by 3.94 percent and 21.88 percent over 2,183 units and 1,339 units sold in February 2022.