Royal Enfield Sales in May 2024 | Segment Wise Sales Analysis

Key Highlights:

• Royal Enfield's sales dropped 12.25% in May 2024 to 64,238 units.
• Under 350cc sales fell 13.31%, while above 350cc sales grew 32.47%.
• Domestic sales decreased by 12.25%; exports increased by 60.56%.
• Year-to-date sales rose 1.52% in FY25, driven by above 350cc segment and exports.

Royal Enfield has reported a decline in sales for May 2024. This motorcycle manufacturing brand sold 71,070 units in May 2024 reflecting a 8.25% decrease compared to the 77,461 units sold in the same month last year. However, this decline reveals a varied performance across different segments and markets, providing a deeper understanding of Royal Enfield's current market dynamics. 

Monthly Sales Analysis

Also Read: Car Sales Report For May 2024, MoM & YoY Changes & Trends

Under 350cc Segment

The under 350cc segment, which includes popular models like the Classic and Bullet, saw a significant drop in sales. This segment registered a decline of 13.31%, with 59,852 units sold in May 2024 compared to 69,038 units in May 2023. Despite this downturn, the under 350cc segment remains the cornerstone of Royal Enfield's portfolio, accounting for 84.22% of total sales.

Above 350cc Segment

In contrast, the above 350cc segment experienced robust growth. This segment, featuring models like the Himalayan and 650 Twins, saw sales increase by 32.47%, with 11,158 units sold in May 2024 compared to 8,423 units in May 2023. This growth highlights a rising consumer preference for higher-capacity motorcycles, with the segment now representing 15.70% of total sales.

Year-to-Date (YTD) Performance

For the financial year-to-date (FYTD), Royal Enfield's performance presents a mixed yet steady growth. The company sold a total of 1,52,880 units in April and May 2024, marking a 1.52% increase from the 1,50,597 units sold during the same period last year.

Domestic sales experienced a slight decline of 0.79%, with 1,38,569 units sold in FY25 YTD compared to 1,39,676 units in FY24 YTD. Despite this, the domestic market remains dominant, contributing 90.64% of total sales. On the other hand, exports showed significant growth, with a 31.04% increase, reaching 14,311 units in FY25 YTD compared to 10,921 units in FY24 YTD, reflecting the brand's expanding global reach.

Under 350cc Segment

The under 350cc segment saw a slight year-on-year decline, with 1,32,718 units sold in FY25 YTD, down by 0.75% from 1,33,716 units in FY24 YTD. Despite this minor drop, this segment continues to be a major part of total sales, representing 86.81%.

Above 350cc Segment

The above 350cc segment, including the Himalayan 450, Scram 411, 650 Twins, and Super Meteor 650, showed robust growth with sales increasing by 19.79%. This segment sold 20,162 units in FY25 YTD, up from 16,831 units in FY24 YTD, now making up 13.19% of total sales.

Domestic vs. Export Sales

Domestic sales have not been as favorable, with a 12.25% decline from 73,206 units in May 2023 to 64,238 units in May 2024. The domestic market still makes up a significant 90.39% of total sales. On a more positive note, exports surged by an impressive 60.56%, with 6,832 units exported in May 2024 compared to 4,255 units in May 2023. This growth in exports, accounting for 9.61% of total sales, underscores Royal Enfield's expanding international footprint.

Sales Data Summary

Carbike360 Says

While Royal Enfield faces challenges in its domestic market, the strong performance in the above 350cc segment and impressive growth in exports provide a silver lining. The company’s ability to capture international markets and cater to the growing demand for higher-capacity motorcycles will be crucial for sustained growth. As Royal Enfield navigates these shifting market dynamics, its strategic focus on diverse segments and global expansion will be key to its future success.