Royal Enfield reported that total April sales rose 18% to 73,136 vehicles, compared to 62,155 in the same month in 2022. While this bodes well for the motorcycle maker, there is a degree of concern as exports have almost halved.
In a press statement, Royal Enfield informed that its domestic sales in India climbed 28% to 68,881 units last month from 53,852 units in April 2022. However, exports fell to 4,255 vehicles from 8,303 in April 2022.
However, the company remains confident about strong performance going forward. “We ended FY23 on a high note and started FY24 with confidence,” said B Govindarajan, CEO, Royal Enfield. “To further up the ante and strengthen our position as India’s global motorcycle brand, we recently Launched our Hunter 350 and Scram 411 in the US and Latin American markets. I am confident these motorcycles will continue to perform well and strengthen our foothold in these markets.”
The Hunter 350 is the key model, starting at $3,999 in the US. The Make in India model for the Indian and US markets has the same basis. In addition to the United States, the Hunter 350 is sold in Indonesia, Japan, Thailand, Australia and New Zealand, France, Germany, Italy, United Kingdom, Argentina, Colombia and Mexico.
First published date: May 2, 2023 at 09:19 AM CST
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