Royal Enfield has reported a YoY growth of 27.04 percent in January 2023 backed by its 350cc range
Royal Enfield commands more demand for its bikes in the 350cc range that include the likes of Classic, Meteor, Hunter, Electra and Bullet. The above 350 range also adds some numbers to total sales. This range offers the Himalayan and the 650 Twins.
Speaking of the 650 Twins, Royal Enfield rode into the new year with the launch of their 3rd motorcycle in the 650cc range – its most premium and expensive motorcycle – Super Meteor 650. This new RE comes in at a price tag of Rs 3,48,900 (ex-showroom).
Royal Enfield Sales Jan 2023
Sales in the past month stood at 74,746 units, up 27.04 percent from 58,838 units sold in Jan 2022. This was a volume growth of 15,908 units. Growth was seen in terms of domestic sales while exports were in the red.
Royal Enfield bikes in the sub 350cc segment performed better than its larger offerings. Sales of the 350cc segment that commands an 8.78 percent share. Sales in this segment stood at 6,563 units in the past month, down 29.06 percent over 9,252 units sold in Jan 2022.
Domestic sales improved by 36.15 percent to 67,702 units in Jan 2023 from 49,112 units sold in Jan 2022 while exports dipped 22.70 percent to 7,044 units in the past month from 9,112 units shipped in the same month of the previous year.
A similar scenario existed in MoM sales. Sales growth for 350cc bikes suffered a de-growth of 8.56 percent. There had been 61,223 units and 7,177 units sold respectively in Dec 2022. Domestic sales also improved on a MoM basis by 13.17 percent as there had been 59,821 units sold in Dec 2022 while exports fell 17.89 percent from 8,579 units shipped in Dec 2022.
Royal Enfield YTD Sales
During the period April 2022 to Jan 2023, Royal Enfield sales stood at 6,91,116 units. This was a growth of 45 percent from 4,75,431 units sold from April 2021 to January 2022. Bikes in the 350cc range, Royal Enfield saw sales growth of 11 percent to 82,344 units from 74,346 units sold in the April-Jan 2022 period.
Exports improved by 24 percent to 80,596 units in the April 2022-Jan 2023 period from 64,807 units shipped during the months of April 2021-Jan 2022. It is from early this month that the company will commence exports of the RE Super Meteor 650 –Astral, Interstellar and Celestial to global markets. This could allow the company to improve export numbers in the coming months.