In the first nine months of FY2024, Royal Enfield has sold over 6 lakh units.
Chennai-based midsize motorcycle market leader Royal Enfield, which recently signed an MoU with the Tamil Nadu government, has sold 8,22,295 bikes in CY2023. While this total constitutes a 17 percent year-on-year increase over CY2022’s 7,03,156 units, it is lesser than the company’s best-ever annual sales of 8,37,669 units in CY2018.
As in CY2023, the strong sales momentum continues for Royal Enfield in the fiscal year. In the first nine months of FY2024, the company has dispatched a total of 6,30,273 units, which makes for 16 percent YoY growth (April-December 2022: 5,42,818 units). Festive October 2023 with 80,958 units has been the best month in CY2023 as well as the ongoing fiscal.
Sales of the 350cc models in the April-November 2023 period, as per SIAM industry wholesales data, were 5,25,300 units, up 18.42percent YoY (April-November 2022: 4,43,554 units). Along with sustained demand for the popular Bullet and Classic, the Hunter and the Meteor have carved a following of their own.
Also See:
Triumph Speed 400 vs RE Hunter 350 vs Classic 350 comparison: Retro rivalry
The 411cc Himalayan adventure bike saw dispatches of 25,843 units, down 3.85percent (April-November 2022: 26,878 units). Demand remains strong for the 650 twins as well as the Super Meteor 650 – the 21,839 units sold in the first 9 months of FY2024 are a handsome increase of 74 percent YoY (April-November 2022: 12,565 units)
With three months still to go in FY2024 and Royal Enfield having averaged monthly sales of 70,030 units between April-December 2023, an 8 lakh-plus score is there for the taking, despite growing competition in this segment in India.