Royal Enfield poised to sell 8 lakh motorcycles in FY24
What's the story
Royal Enfield, one of India's leading motorcycle manufacturers, has seen a significant sales boost in FY2024, with a 16% YoY growth in the first nine months. The company dispatched a total of 6,30,273 units, averaging 70,030 units per month between April and December 2023. Despite growing competition, Royal Enfield is on track to sell over eight lakh bikes in FY24, thanks to strong sales during the festive period, which saw 80,958 units sold in October.
Sales boost
Sales boosted by popular models and an extended festive period
Royal Enfield's 350cc models, including the Bullet, Classic, Hunter, and Meteor, contributed to increased sales figures. With 5,25,300 units sold between April and November 2023, the bikemaker witnessed an increase of over 18% YoY. Meanwhile, the 411cc Himalayan ADV model experienced a slight dip in sales, with 25,843 units dispatched, down nearly 4% YoY. It remains to be seen if FY24 sales figures will beat the company's best-ever annual sales of 8,37,669 units recorded in CY2018.
Other models
Mixed performance for other models in Royal Enfield's lineup
Royal Enfield's 650 twins and Super Meteor 650 saw a surge in demand, selling 21,839 units in the first nine months of FY2024. This is a remarkable 74% YoY increase. The sales figures highlight the diverse consumer preferences within Royal Enfield's extensive lineup of motorcycles. The Chennai-based bikemaker is also expecting a good response for its first-ever bobber-style motorcycle, the Shotgun 650, and new-age Himalayan 450.