Royal Enfield's sales increase 32% in July 2023
Royal Enfield's sales soared by 32% YoY in July 2023, with 73,117 motorcycles sold. Although exports dipped by 22% at 7,055 units, its domestic sales grew by 42% at 66,062 units. Both the Hunter and Classic models continued to drive growth for the Chennai-based bikemaker on our shores. Meanwhile, its 650cc offerings saw a 5% decline, with 8,719 units dispatched last month.
Royal Enfield's strong Q1 despite Harley-Davidson, Triumph rivalry
Despite facing tough competition from Harley-Davidson and Triumph Motorcycles in the month of June and July, Royal Enfield reported a robust Q1 FY2024 with 300,823 units sold, marking a 24% YoY growth. However, exports remain a challenge for the bikemaker, with a 29% drop at 27,590 motorcycles shipped overseas. The company is focusing on long-term strategic goals to maintain its growth trajectory.
Exciting new launches will boost the overall growth
Royal Enfield is gearing up for big launches in the coming months, including the new-generation J-series-based Bullet 350, along with an all-new Shotgun 350, Himalayan 450, and Classic 650. These launches are expected to make a strong impact on the automaker's growth trajectory and further solidify its market position. The company is also developing an electric motorcycle for future release.
