Royal Enfield Domestic Sales up 6% in Oct 2023 – Exports fall 39%

Royal Enfield sold 84,435 motorcycles in October 2023 while exports declined to 3,477 units during the same month

Royal Enfield sales in October 2023 increased both on a YoY and MoM basis and across its bikes in the sub-350cc and above-350cc categories. Sales ended positively in domestic markets though exports dipped both YoY and MoM.

Royal Enfield YoY Sales Growth in October 2023

Royal Enfield total sales (domestic + exports) stood at 84,435 units in October 2023. This was a 2.68 percent YoY growth over 82,235 units sold in October 2022 relating to a volume growth of 2,200 units. There was a growth in domestic sales by 5.79 percent to 80,958 units, up from 76,528 units sold in October 2022 with a 95.88 percent share while exports fell by 39.07 percent to 3,477 units from 5,707 units shipped in October 2022.

Greater demand was seen in the case of RE bikes in the sub 350cc segment, sales of which grew by 1.67 percent YoY to 76,075 units in October 2023 up from 74,828 units sold in October 2022. Bikes in the above 350cc segment also posted a 12.87 percent YoY growth to 8,360 units, up from 7,407 units sold in October 2022.

On a month-on-month (MoM) basis, RE sales grew by 7.45 percent over 78,580 units sold in September 2023. Here again, there was growth across domestic sales to the tune of 9.02 percent from 74,261 units sold in September 2023, while exports fell 19.50 percent from 4,319 units shipped in September 2023. Sales of the under 350cc bikes improved by 8.15 percent MoM while it was a 1.52 percent growth in case of bikes in the above 350cc segment.

Royal Enfield Year-to-Date Sales FY24 Vs FY23

In terms of fiscal year-to-date sales for the current financial year (FY24 YTD), Royal Enfield showed strong growth compared to the same period in previous year (FY23). In the FY2024 period, RE sales grew to 5,41,421 units, up 13.46 percent over 4,77,204 units sold in the same period of FY23. This was a volume growth of 64,217 units.

Sales of sub-350cc bikes which include the likes of Classic 350, Hunter 350, Meteor 350 and the new 2023 Bullet 350, stood at 4,82,271 units, up 16.66 percent over 4,13,410 units sold in FY23. Bikes in the more powerful segment that include the Himalayan 411, Scram 411, Super Meteor 650, Interceptor 650 and Continental GT 650, witnessed a decline of 7.28 percent to 59,150 units in FY24 from 63,794 units sold in FY23.

Domestic sales stood at 4,97,845 units in the FY24 period with a 19.32 percent growth over 4,17,237 units sold in FY23. The company’s performance in export markets ended in the red as numbers fell 27.33 percent to 43,576 units in FY24 from 59,967 units sold in FY23.

The company has just revealed details of its new Himalayan 450 ahead of its official launch this month. Existing Himalayan 411 will be discontinued. The new Himalayan 450 will rival the recently launched Triumph Scrambler 400X, upcoming KTM 390 Adventure, 390 Enduro and Hero Xpulse 440.