Royal Enfield's bike sales dip 7.3% in December 2023
In December 2023, Royal Enfield saw a 7.33% drop in sales, with 63,387 units sold compared to 68,400 units in December 2022. This decline continued from November 2023, when the company sold 80,251 units, marking a 21.01% month-on-month de-growth. The sub-350cc segment, featuring models like Bullet, Meteor, Hunter, and Classic, experienced both year-on-year as well as month-on-month sales decreases.
Sub-350cc segment declines
Sales for Royal Enfield's sub-350cc bikes dipped to 55,401 units in December 2023 from 61,223 units in December 2022, a decrease of 5,822 units. Despite this decline, the segment still held an 87.40% share of the company's lineup. In contrast, the above 350cc segment, which includes models like Himalayan, 650 Twins, and Super Meteor, saw an 11.27% YoY growth with 7,986 units sold compared to 7,177 units in December 2022.
Year-to-date sales and export performance
From April-December 2023, Royal Enfield sold a total of 685,059 units (domestic + exports), an 11.14% increase from the same period in 2022. Sales of motorcycles with engine capacities up to 350cc grew by 13.20%, reaching 611,947 units. However, sales in the above 350cc segment dipped by 3.52% year-to-date to reach 73,112 units. Exports also experienced a decline of 25.51% on a year-to-date basis, dropping to 54,786 units from 73,552 units sold during the April-December 2022 period.
