Royal Enfield reported a 6.73% increase in sales in March 2023. In the previous month, total sales increased to 72,235 units, up from 67,677 units. In domestic markets, RE increased by 2.41% year on year while declining by 7.06% month on month. Exports climbed by 34.25% year on year and 73.76% month on month.
When looking at Royal Enfield sales in the fiscal year 2022-23, domestic sales were 7,34,840 units. This represented a 40.98% increase over the 5,21,263 units sold in FY 2021-22. Domestic sales accounted for 88.02% of total sales.
Exports increased by 23.48% to 1,00,055 units in FY 2022-23. From 81,032 units sold in FY 2021-22 with an 11.98% share. Total sales increased to 8,34,895 units in FY 2022-23 from 6,02,268 units in FY 2021-22. That was a volume increase of 2,32,627 units, resulting in the company's biggest-ever sales in its history.
RE has a good chance of breaking its sales record in FY2024. The company has several new product launches scheduled for the coming year, which will help grow sales even more. RE will expand its 650cc lineup even further. Scram 650cc, Classic 650, and Himalayan 650 are among the future RE 650cc motorcycles. RE will introduce the new-generation Bullet 350 and Electra 350 in the 350cc segment later this year.