Royal Enfield Sales: The Royal Enfield sales figures for February 2024 revealed a small 0.33% MoM dip compared to the January 2024 data.
The legendary motorbike maker Royal Enfield sales, India’s top manufacturer of vintage bikes, celebrated a stylish conclusion in February 2024. The company has seen a very slight MoM reduction over sales that started a month earlier and a very respectable YoY gain over last year’s sales performance.
Royal Enfield Sales February 2024
With an 85.3% market share, the business alone is the dominant force in the 300cc to 500cc motorbike class. The 350cc portfolio is the one that contributes the most volume to Royal Enfield’s sales statistics.
A 349cc J-series engine and J-platform power this 350cc. This platform gave rise to four different motorcycles: the Classic 350, Bullet 350, Hunter 350, and Meteor 350. Using February 2024 as an example, 350cc bikes sold 66,157 units, or 87.12% of the company’s total sales. There was a 2.08% YoY increase from 64,810 units sold in February 2023.
Nonetheless, the 67,620 units sold in January 2024 guaranteed a 2.16% MoM reduction in Royal Enfield’s 350cc portfolio. MoM volume reduction was 1,463 units, while YoY volume growth was 1,347 units. 350cc bikes saw YTD sales of 7,45,724 in FY24, an increase of 10.71% YoY over 6,73,582 in FY23.
The company’s older 411cc platform-based Scram 411, Sherpa 450-based New Himalayan, 650cc-based Interceptor 650, Continental GT 650, Super Meteor 650, and recently released Shotgun 650 are among Royal Enfield’s more than 350cc offerings.
The company shipped 8,013 units to global markets
With 9,778 units sold, the >350cc portfolio as a whole represented 12.88% of RE’s total sales. This segment saw a YoY rise of 45.2% over 6,734 units from the previous year and a MoM gain of 14.14% over 8,567 units from the previous month. YoY and MoM volume gains were 3,044 and 1,211 units, respectively.
With 91,457 units sold above 89,078 units, there was a 2.67% YoY rise in the YTD analysis for this <350cc segment, resulting in a volume growth of 2,379 units. With 67,922 units sold domestically, Royal Enfield’s sales represented 89.45% of the company’s total sales. The YoY rise was 5.39%, compared to 64,446 units in February 2023.
Additionally, the amount of sales decreased by 2,634 units, or 3.73% MoM, from the 70,556 units sold in January 2024. In the YTD report, domestic sales increased by 13.90% YoY to 7,68,751 units sold. The launch of more inventive and attractive products has ensured a greater possibility for exporting.
Compared to 7,108 units sent a year ago and 5,631 units shipped a month earlier, Royal Enfield sales exports have experienced a remarkable 12.73% YoY growth and a whopping 42.30% MoM growth, standing at 8,013 units. With 68,430 units shipped, exports witnessed a 21.98% YoY reduction as of the current year.
75,935 units were sold by Royal Enfield overall in February 2024 sales figures. February 2023’s 71,554 units guaranteed a 6.12% YoY rise. The January 2024 total of 76,187 units, however, guaranteed a 0.33% MoM reduction. In terms of YTD sales, Royal Enfield sold 8,37,181 units, a 9.77% YoY increase over the 7,62,660 units sold in FY23 with volume growth of 74,521 units.