Royal Enfield has had an incredible year in 2022 with a strong recovery in domestic and export volumes. Despite a decline in sales in December 2022, the bike maker also ended the year well with sales up 27.72%. The company sold 59,821 vehicles last month, down 8% from 65,187 in December 2021, an increase in sales.
Exports were flat in December, with 8,579 shipments compared with 8,552 a year earlier. The manufacturer collectively sold 68,400 units, down 7 percent from the 73,739 sold in December. However, Royal Enfield sold a total of 703,166 units in 2022 (January-December), an increase of 27.72% compared to the 550,557 units sold in 2021.
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The sub-350cc segment remained Royal Enfield’s biggest contributor with 61,223 in December, while bikes over 350cc added a further 7,177
While the first quarter started off a slump, sales quickly picked up as the world returned to normal in the post-pandemic era. Royal Enfield had its best monthly sales ever in October last year, with cumulative sales exceeding 80,000 vehicles.
Commenting on the December 2022 results, Royal Enfield CEO B Govindarajan said: “This has been a great year for us at Royal Enfield and our full year results have been very encouraging both domestically and internationally. With the inauguration of our fourth CKD in Brazil outside of India, we have been able to strengthen our foothold in overseas markets. After launching best-in-class products like Scram 411, Hunter 350, we are now all ready to launch Our most anticipated cruiser – the Super Meteor 650. After a hiatus of two years, we had our marquee ride – the Himalayan Odyssey, and the opportunity to celebrate our community with the Rider Mania. We look forward to a new year with many exciting It is exciting news that some of the most exciting motorcycles from Royal Enfield Stables will be making their debut to our customers around the world.”
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In terms of segment, models below 350 cc remain the biggest contributor to Royal Enfield with 61,223 units sold in December 2022. Models with a cubic capacity over 350 cc added another 7,177 last month. In terms of year-to-date sales, the manufacturer sold 542,818 units between April 2022 and December 2022, a 50% increase from the 360,898 units sold during the same period in fiscal 2022. Exports also rose 32 percent, from 73,552 to 55,695. Cumulative year-to-date sales of 616,370 units were up 48 percent from 416,593 units.
First published date: Jan 3, 2023 at 10:57am CST
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