Royal Enfield reports domestic sales decline and growth in exports in January 2022
Royal Enfield total sales fell to 58,838 units in January 2022. Sales fell from 68,887 units at volume loss of just over 10k units. Decline is reported at 14.59 percent. Of this, domestic sales accounted for 49,726 units, down from 64,372 units. Volume loss is reported at 14,646 units, down 22.75 percent.
Total exports more than doubled at 9,112 units, up from 4,515 units. Volume gain stood at 4,597 units at 101.82 percent growth. Domestic sales for the month accounted for 84.51 percent of total sales.
Royal Enfield Sales Jan 2022 – 350cc
Its 350cc segment sales fell to 49,586 units, down from 64,248 units at volume loss of 14,662 units. Sales decline is reported at 22.82 percent. This segment accounted for 84.28 percent of all sales. In this segment, RE sells Classic, Bullet, Electra and Meteor
The above 350cc segment saw sales grow to 9,252 units, up from 4,639 units. Volume gain stood at 4,613 units at 99.44 percent sales growth. Royal Enfield is keen on creating a global brand identity in the mid-segment and this is supported by its export numbers which have continued to grow in recent months. This segment has 650 Twins and Himalayan. New version of Himalayan as well as 3 new motorcycles in the 650cc segment are planned for launch.
MoM sales decline has been even steeper. Sales fell from 73,739 units sold in December 2021. Volume loss stood at 14,901 units at a decline of 20.21 percent. #50cc segment sales fell from 62,543 units, down 20.72 percent. Volume decline stood at 12,957 units.
Over 350cc segment sales fell from 11,196 units, down 17.36 percent. Volume loss stood at 1,944 units. Domestic sales fell from 65,187 units, down 23.72 percent. Volume loss stood at 15,461 units. MoM exports saw growth of 6.55 percent, up from 8,552 units. Volume gain stood at 560 units.
Though sales are diminished, it continues to march on despite impact on production. Production has been hampered owing to the third wave of Covid-19 pandemic. Add to this the ongoing global shortage of semiconductor chips. While the domestic market sees sales struggles, Royal Enfield has put on an exceptional show where exports are concerned. This packs in quite the punch in terms of global growth in international markets with exports.
YTD FY22 sales
YTD 350cc segment sales are reported at 4,01,085 units, down 8 percent from 4,35,321 units. The above 350cc segment has seen great growth at 80 percent. YTD sales are up at 74,346 units, up from 41,312 units. Total sales for FY22 thus far stands at 4,75,431 units. Sales for the same 10 months in the previous fiscal stood at 4,76,633 units. Domestic sales deficit has been largely negated by growth in exports. YTD exports stand at 64,807 units, up from 28,192 units at 130 percent sales growth.
Royal Enfield has launched its all new Classic 350 in Philippines, Korea, Australia and New Zealand in January 2022. It was launched in India and Thailand in 2021. The new timeless classic is built on the modern J-series engine, and an all-new chassis. It’s market dominance is such that the company has already rolled out its 1,00,000th unit.