Royal Enfield clocks 5.79% YoY sales growth this October
What's the story
In October 2023, Royal Enfield witnessed a 5.79% increase in domestic sales, selling 80,958 units compared to 76,528 units in October 2022.
The company's overall sales (domestic and exports) reached 84,435 units last month, up from 82,235 units in October 2022 and 78,580 units in September 2023.
The Classic and Hunter models in the 350cc category were the driving force behind the growth in both year-on-year (YoY) and month-on-month (MoM) sales.
Details
Top-selling models
The Classic 350 emerged as the top-selling model for the company, registering a YoY growth of 0.33% with 31,897 units sold.
Its MoM growth was even more impressive at 22.67%, compared to 26,003 units sold in September.
The Hunter 350 came in second, selling 17,732 units in October, marking a 14.81% YoY increase and a 20.25% MoM growth.
More
Sales performance of other models
The Bullet and Meteor models also played a significant role in Royal Enfield's sales success.
The Bullet 350 experienced a substantial YoY growth of 63.12%, selling 14,281 units, but saw an MoM decline of 18.45%. The new generation Bullet boasts enhanced features and an upgraded engine and suspension.
Meteor sales dipped by 2.05% YoY but increased by 17.12% MoM.
The Himalayan experienced lower sales over the past two months, with a 21.51% YoY decrease and an 8.51% MoM drop.
Insights
Royal Enfield faced a decline in exports
Royal Enfield's exports faced both YoY and MoM declines, with 3,477 units exported in October 2023, a 39.07% YoY decrease and a 19.50% MoM drop.
The Classic 350 led the export list with a de-growth of 11.75% to 1,059 units, while Super Meteor exports reached 1,022 units, a 15.48% MoM increase.
Hunter 350 exports saw a 48.06% YoY decline but a slight MoM improvement of 1.21%.
The 650 Twins, Meteor, Bullet 350, and Himalayan models also experienced de-growth in exports.