Published at May 2, 2023 by BikeJunction
Royal Enfield has finally released its April 2023 Sales Report, revealing total sale figures of 73,136 units. The company saw a significant increase of 18% compared to 62,155 units sold in March 2022. However, 350 cc< & 350 cc> categories saw massive contrasting sale numbers.
Royal Enfield bike sales, with an engine capacity of 350 cc and less, experienced an impressive growth of 25.53%. Whereas RE bikes with engine capacity of more than 350 cc saw a fall in sales by 20.61%. The 350 cc segment reported a sale of 64,728 units in April ‘23, which increased from 51,564 units in April ‘22. The numbers clearly indicate increasing demand for smaller-engine bike models in the market.
RE models with engine capacity higher than 350 cc experienced a decline in sales, from 10,591 units in April ‘22 to 8,408 units in April ‘23. The numbers suggested a huge overlap of trends.
The company also experienced a 49% decline in export sales. However, domestic sales were seen beaming with a 27.91% increase in April 2023. 94.18% of the company’s total sales were from India.
Royal Enfield | Apr - 23 | Apr - 22 | Difference | Growth % YoY | % Share Apr 23 |
< 350 cc | 64,728 | 51,564 | 13,164 | 25.53 | 88.50 |
>350 cc | 8,408 | 10,591 | -2,183 | -20.61 | 11.50 |
Domestic | 68,881 | 53,852 | 15,029 | 27.91 | 94.18 |
Exports | 4,255 | 8,303 | -4,048 | -48.75 | 5.82 |
Total | 73,136 | 62,155 | 10,981 | 17.67 | 100 |
Royal Enfield | Apr - 23 | Mar - 23 | Difference | Growth % MoM | % Share Mar 23 |
< 350 cc | 64,728 | 62,522 | 2,206 | 3.53 | 86.55 |
>350 cc | 8,408 | 9,713 | -1,305 | -13.44 | 13.45 |
Domestic | 68,881 | 59,884 | 8,997 | 15.02 | 82.90 |
Exports | 4,255 | 12,351 | -8,096 | -65.55 | 17.10 |
Total | 73,136 | 72,235 | 901 | 1.25 | 100.00 |
The above data clearly sheds light on RE’s strong popularity in the domestic market. The dip in big engine capacity bikes & exports may be due to RE’s focus on exports of its more than 350 cc engine capacity bike with an aim to establish itself as a global mid-segment motorcycle manufacturer.
And even though the exports fell halved, the 350+ cc segment sale numbers didn’t decrease as much in the Indian market. This could mean most of the larger bikes were, in fact, sold in the domestic market only. The decline in exports might be a concern for RE as it is a major source of their revenue.
When analysing the overall sales figures, it is clear that consumers are shifting their interest towards smaller engine bikes, especially RE’s 350 cc product range. Royal Enfield has been working on a range of new motorcycles that will expand its product range further. In March ‘23, the company saw a total bike sales of 72,235 units, showing a 1.25% MoM rise in Apr ‘23. The MoM sales in the domestic market also experienced a 15.02% increase, while the exports fell by 65.55%.
Click to learn more about the upcoming 6 Royal Enfield models that are launching soon.
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