Royal Enfield, the iconic motorcycle brand, has concluded the first month of 2024 on a positive note, exhibiting growth in year-over-year (YoY), month-over-month (MoM), and year-to-date (YTD) sales aspects. Here's a comprehensive overview of the sales performance for January 2024:
Total Sales Volume
- Royal Enfield recorded an impressive total sales volume of 76,187 units in January 2024.
Contribution of 350cc Portfolio
- The 350cc portfolio, comprising models such as Bullet 350, Hunter 350, Meteor 350, and Classic 350, played a pivotal role, contributing to the majority of sales.
- Royal Enfield sold 67,620 units of 350cc motorcycles, accounting for 88.76% of the total sales.
Year-over-Year (YoY) Performance
- In comparison to January 2023, there was a slight 0.83% YoY decline in the 350cc segment, with a volume loss of 563 units.
Month-over-Month (MoM) Growth
- The 350cc motorcycles witnessed a robust MoM growth of 22.06%, surpassing the December 2023 sales figures.
- Total domestic sales also exhibited substantial MoM growth of 23.15%.
Other Engine Capacities
- Motorcycles with engine capacities of 411cc, new 450cc, and 650cc collectively accounted for 11.24% of total sales, with 8,567 units sold.
- This segment experienced a significant 30.53% YoY growth and a 7.28% MoM growth.
Domestic Sales and Exports
- Domestic sales stood at 70,556 units, showcasing a 4.22% YoY growth and a remarkable 23.15% MoM growth.
- Exports, however, witnessed a sharp YoY decline of 20.6%, totaling 5,631 units.
Overall Growth
- In total, Royal Enfield achieved a 1.93% YoY growth, amounting to 76,187 units, showcasing positive momentum.
Year-to-Date (YTD) Sales for FY24
- YTD sales for the 350cc portfolio reached 6,79,567 units, reflecting an 11.63% positive growth.
- Motorcycles with engine capacities over 350cc demonstrated a 0.81% YoY decline in sales.
Export Performance (FY24 YTD)
- The 60,417 units of exports accounted for a 25.04% YoY decline.
Total YTD Sales for FY24
- Royal Enfield's YTD sales for FY24 stood at 7,61,246 units, indicating a positive growth of 10.15%.
Royal Enfield's sales performance in January 2024 signifies its strong presence and continued appeal in the motorcycle market. The brand's focus on different engine capacities caters to a diverse consumer base, contributing to its overall success in the industry.