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In April 2024, Royal Enfield's overall sales surged by 12%, reaching 81,870 units, driven by strong demand in the sub-350cc segment. Domestic sales soared, while exports witnessed substantial growth.
Key Highlights:
Royal Enfield has witnessed positive sales growth, with a total sale of 81,870 units in April showcasing impressive year-on-year growth rate of 11.94%. The growth has been primarily driven by the increased demand in the sub-350cc segment.
B Govindarajan, CEO, Royal Enfield stated, “We’ve had a remarkable FY24, and we are all set for an exciting year ahead and are prepared for the challenges. We’ve already begun this year on a strong footing and have continued our double-digit growth and with a strong pipeline of products I am confident that we will be able to sustain and build further on our growth momentum.”
Motorcycles | April’24 | April’23 | Difference | Growth% YoY |
<350cc | 72,866 | 64,728 | 8,138 | 12.57 |
>350cc | 9,004 | 8,408 | 596 | 7.09 |
Domestic | 75,038 | 68,881 | 6,157 | 8.94 |
Exports | 6,832 | 4,255 | 2,577 | 60.56 |
Total | 81,870 | 73,136 | 8,734 | 11.94 |
Sub-350cc & Over-350cc Segment: Royal Enfield witnessed growth of 12.57% YoY in the sub-350cc category, with sales reaching 72,866 units in April 2024 compared to 64,728 units in April 2023. This growth showcases the popularity and appeal of Royal Enfield motorcycles in this segment.
Although experiencing a slightly lower growth rate of 7.09% YoY, Royal Enfield remains a dominant player in the over-350cc segment, with 9,004 units sold in April 2024. Notably, the company maintains a diverse product portfolio in this segment.
Domestic & Export Sales: Domestic sales witnessed outstanding growth of 8.94% YoY, reaching 75,038 units in April 2024. However, export sales surged significantly by 60.56% YoY, with 6,832 units shipped during the same period.
This divergence in growth rates is result of Royal Enfield's dual strategy of consolidating its position in the domestic market and at the same time actively pursuing expansion plans abroad.
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Motorcycles | April’24 | April’23 | Difference | Growth% YoY |
<350cc | 72,866 | 66,363 | 6,503 | 9.80 |
>350cc | 9,004 | 9,188 | -184 | -2.00 |
Domestic | 75,038 | 66,044 | 8,994 | 13.62 |
Exports | 6,832 | 9,507 | -2,675 | -28.14 |
Total | 81,870 | 75,551 | 6,319 | 8.36 |
Sub-350cc & Over-350cc: In April 2024, Royal Enfield showed a 9.80% increase in sub-350cc sales compared to March 2024, indicating positive month-on-month growth. However, above 350cc segment motorcycle sales witnessed a marginal decline of 2.00% MoM, which could be the result of potential market fluctuations and customer choices.
Domestic & Export Sales: Domestic sales exhibited a substantial 13.62% growth MoM, underscoring Royal Enfield's stronghold in the domestic market. Conversely, export sales saw a notable decline of 28.14% MoM, indicating possible challenges in international markets that warrant further exploration and strategic adjustments.
RE is expected to showcase the same growth rate in upcoming months, as the company is set to launch new iterations in its 350 and 450 segments. Royal Enfield's future launches, includes upgraded version of Classic 350 and Classic 650. The company is also planning to launch Guerrilla 450 in few months, followed by Bear 650, claimed scrambler based on 650 cc parallel-twin engine platform.
Recently Royal Enfield has started its rental service globally, highlighting the company's commitment to innovation, product diversification, and customer satisfaction. These launches aim to enhance customer experience and maintain Royal Enfield's special and niche position as a leading player in the motorcycle industry.
Royal Enfield's sales performance in April 2024 is a testament to its successful consumer demand oriented growth plans. The company's sustained growth trajectory in both domestic and international markets, coupled with strategic product launches, positions it favorably for continued success in the motorcycle industry.
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