Royal Enfield’s domestic sales up 34% in June, boosted by 350cc motorcycles

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Royal Enfield has released June 2023 sales, with the company selling 61,407 domestically, up 34% from 50,265 in June 2022. Cumulative sales (domestic + export) last month were 77,109 units, an increase of 26% compared to 61,407 units sold in the same period last year, an increase of %.

go through: HT car desk
| Updated on: July 1, 2023 at 20:06

Royal Enfield’s 350cc range remains its main contributor, accounting for nearly 90% of sales, while sales of 350-650cc models fell 23% last month (Sabyasachi Dasgupta/HT Auto)

Royal Enfield’s strong sales are driven by its range of 350 cc motorcycles, including Bullet, Hunter, Classic and Meteor models. In June, the company sold 68,664 350cc motorcycles, up 36% from 50,405 in the same period last year. In contrast, sales of motorcycles between 350-650 cc fell 23 percent to 8,445 units, compared to 11,002 a year earlier. Exports are also down, with 9,614 units shipped overseas in June 2023, down 14% from the 11,142 units sold in June 2022.

(Watch: Royal Enfield Himalayan 450 in action ahead of launch)

Commenting on the sales performance, Royal Enfield CEO B Govindarajan said: “At Royal Enfield, we have always strived to create products and experiences that excite consumers and our recent performance proves that we can do that well. I Excited to report that we continued our strong growth momentum in fiscal 2024 and achieved our highest ever sales in the first quarter; breaking the all-time high for the first quarter of fiscal 2019. Our most recent offerings are in The Indian and international markets continue to perform well and we are optimistic that our exciting range of motorcycles will surely appeal to pure motorcycle enthusiasts across the globe.”

Still, Royal Enfield also posted its best-ever results in the first quarter of fiscal 2024. The company has sold 227,706 vehicles so far this year (April-June 2023), up 22% year-over-year, compared with 187,205 vehicles sold during the same period in fiscal 2023. Domestic sales contributed 207,171 units during the period, a 31% increase from the 157,642 units in fiscal 2023. Exports, on the other hand, fell 31 percent to 20,535 units, down from 29,563 units in the previous fiscal year.

Despite the opening of a new CKD factory in Nepal, Royal Enfield’s lean exports continue. This marks the company’s fifth global CKD assembly plant outside India as the manufacturer continues its aggressive expansion in global markets. The manufacturer is now gearing up to launch the Himalayan 450, which was recently teased and is said to debut later this year.

First published date: July 1, 2023 at 20:06 PM India Standard Time

https://auto.hindustantimes.com/auto/two-wheelers/royal-enfield-s-domestic-sales-grow-34-in-june-backed-by-350-cc-motorcycle-range-41688221730527.html

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