Royal Enfield has registered a YoY growth of 46.69 percent in domestic markets while exports dipped 26.64 percent
Royal Enfield continues to command the 350cc segment with models such as the Classic 350, Hunter 350, Meteor 350 and Bullet 350. It was these very bikes that drove sales of the company month after month. Nov 2022 sales report was not very different from previous months.
Royal Enfield domestic sales in Nov 2022 stood at 65,760 units, up 46.69 percent over 44,830 units sold in Nov 2021. MoM sales on the other hand, dipped 14.07 percent from 76,528 units sold in Oct 2022. It was the RE Classic 350 that ruled the list with 26,701 units sold in the past month, up 36.23 percent YoY from 19,601 units sold in Nov 2021. This bike commands a 40.61 percent share in Nov 2022 while this share percentage stood at 41.54 in Oct 2022. MoM sales however, dipped 16.01 percent from 31,791 units sold in Oct 2022.
Royal Enfield Sales Breakup Nov 2022
The recently launched RE Hunter 350, the company’s most affordable offering at a starting price of Rs 1,49,900 (ex-showroom), has found its way to 2nd position on the sales list. Sales stood at 15,588 units in Nov 2022, a marginal MoM growth of 0.93 percent from 15,445 units sold in Oct 2022.
It was followed by the Bullet 350 which posted a 5.98 percent YoY and 6.21 percent MoM degrowth to 8,211 units in Nov 2022. The company had sold 8,733 units and 8,755 units in Nov 2021 and Oct 2022 respectively. Despite de-growth, share percentage increased from 11.44 to 12.49 percent MoM.
Sales increased YoY for the RE Meteor 350 by 919 units or 13.56 percent to 7,694 units in Nov 2022 from 6,775 units sold in Nov 2021. October 2022 sales had been at 10,353 units relating to a 25.68 percent MoM de-growth. In the 350cc segment, the company also has Electra 350 of which 4,170 units were sold last month, down 2.04 percent from 4,257 units sold in Nov 2021. MoM sales fell by 8.85 percent over 4,575 units sold in Oct 2022.
There was also RE Himalayan and 650 Twins lower down the list, both of which posted YoY and MoM de-growth. Himalayan sales dipped 35.92 percent to 2,121 units last month from 3,310 units sold in Nov 2021 while in Oct 2022, sales had been at 3,751 units relating to a 43.46 percent MoM de-growth. 650 Twins also suffered 40.85 percent YoY and 31.43 percent MoM degrowth to 1,274 units in the past month. Despite this de-growth, it was these two models (Interceptor and Continental GT) that dominated the 500cc+ segment in Nov 2022, with a 77.97 percent market share.
RE Exports Nov 2022
Royal Enfield suffered lower exports both on YoY basis by 26.64 percent to 5,006 units from 6,824 units sold in Nov 2021. MoM sales fell 12.28 percent from 5,707 units shipped in Oct 2022. Globally, it was the Hunter 350 that commanded the most attention with 2,403 units shipped in Nov 2022. It was at 1,290 units in Oct 2022 relating to an 86.28 percent MoM growth. Share percentage increased from 22.60 percent held in Oct 2022 to 48.00 percent last month.
RE Himalayan also posted positive sales in global markets to 1,041 units in Nov 2022, up 13.40 percent from 918 units shipped in Nov 2021. MoM sales growth was at 30.45 percent from 798 units exported in Oct 2022. Classic 350cc exports fell 39.20 percent YoY and 30.33 percent MoM to 836 units while 650 Twins exports dropped 80.24 percent YoY and 62.60 percent MoM to 374 units in Nov 2022. Similarly, Meteor 350 exports also fell 86.49 percent YoY and 75.19 percent MoM to 352 units. The Classic 500, of which the company had exported 33 units in Nov 2021 has since been discontinued.