Royal Enfield's January sales grow 20% MoM to 76,000 bikes
Royal Enfield, one of the oldest motorcycle manufacturers, has experienced a boost in sales this January. The company sold as many as 76,187 motorcycles last month, recording a 20% growth in sales month-over-month. The 350cc lineup contributed greatly. This range includes fan favorites such as the Bullet 350, Hunter 350, Meteor 350, and the brand's best-selling model, the Classic 350. Here's a look at the overall sales performance in detail.
Strong performance of 350cc motorcycles
In January 2024, Royal Enfield sold 67,620 units of its 350cc motorcycles, making up 88.76% of the company's total sales. This was a slight YoY decrease of 0.83% compared to the 68,183 units sold in January 2023. However, it marked a significant MoM growth of 22.06% over the 55,401 units sold in December 2023. The Classic 350 remains the top-selling model in this category.
Growth in sales of higher-capacity models
The company's higher capacity motorcycles, including the 411cc, new 450cc, and 650cc models, accounted for 11.24% of total sales with 8,567 units sold in January. This represents a YoY growth of 30.53% over the 6,563 units sold in January 2023 and a MoM growth of 7.28% over the 7,986 units sold in December 2023. The volume growth for these models stood at 2,004 units YoY and 581 units MoM.
Domestic sales rise while exports decline
Royal Enfield's domestic sales reached 70,556 units in January 2024, a YoY growth of 4.22% over the 67,702 units sold in January 2023. It also witnessed a MoM growth of 23.15% over the 57,291 units sold in December 2023. However, exports experienced a 20.6% YoY decline with 5,631 units, compared to the 7,044 units shipped last year. This also marked a 7.63% MoM decline from the 6,096 units exported last month.
