Royal Enfield August 2023 Sales Report Shows A 10.66% YoY Growth!

Published at September 6, 2023 by BikeJunction

Royal Enfield August 2023 Sales Report Shows A 10.66% YoY Growth!

Royal Enfield has been a major motorcycle manufacturer, especially in the mid-size motorcycle market. The company boasts a diverse portfolio of bikes that spans across both >350 cc & <350 cc categories. In August 2023, the company announced remarkable growth both in terms of MoM & YoY basis.

Royal Enfield YoY Sales Analysis

Royal Enfield Bikes	August 2023	August 2022	Difference	Growth % YoY	% Share August 2023
< 350 cc	69,023	62,236	6,787	10.91	88.97
> 350 cc	8,560	7,876	684	8.68	11.03
Domestic	69,393	62,892	6,501	10.34	89.44
Exports	8,190	7,220	970	13.43	10.56
Total	77,583	70,112	7,471	10.66	100.00

August 2023 has been a very successful month for the company, with amazing YoY & MoM growth. The company reported a total sales figure of 77,583 units in August 2023, as opposed to 70,112 units in August 2022. These numbers translated to a remarkable rise of 10.66% YoY growth.

For the sub-350cc category, Royal Enfield's major offerings, such as -

Classic 350,
Hunter 350,
Meteor 350, and
Newly launched 2023 Bullet 350

Had a combined sales figure of 69,023 units. This segment saw a phenomenal increase of 10.91% when compared to August 2022.

On the flip side, the above-350cc segment, including models such as -

Himalayan 411,
Scram 411,
Super Meteor 650,
Interceptor 650, and
Continental GT 650

Had combined sales figures of 8,560 units, reporting an overall 8.68% increase when compared to August 2022.

These sales figures clearly showcase the brand’s firm foothold in the under 350cc segment, with a total market share of 88.97%. Even the above 350cc segment held a remarkable market share of 11.03%.

Domestic sales of Royal Enfield witnessed an impressive growth of 10.34% YoY, with sales figures of 69,393 units for August 2023, as opposed to 62,892 units in August 2022. Export sales figures also experienced an uptick of 13.43% increase, with a total sales figures of 8,190 units.

Royal Enfield MoM Sales Analysis

Royal Enfield Bikes	August 2023	August 2022	Difference	Growth % YoY	% Share August 2023
< 350 cc	69,023	64,398	4,625	7.18	88.08
> 350 cc	8,560	8,719	-159	-1.82	11.92
Domestic	69,393	66,062	3,331	5.04	90.35
Exports	8,190	7,055	1,135	16.09	9.65
Total	77,583	73,117	4,466	6.11	100.00

Looking at the MoM sales figure analysis, August 2023 continued the momentum that was seen in July 2023. The sales figures in the sub-350cc segment increased by 7.18%, with sales figures of 69,023 units this month. However, the above-350cc category saw a minor fall of 1.82%, reporting a total sales figure of 8,560 units.

Domestically, Royal Enfield clocked in a total of 3,331 more units in August, as compared to July, translating to a 5.04% increase. Export-wise, the company reported a significant 16.09% MoM growth, shipping out an additional 1,135 units than in August.

Royal Enfield FY24 YTD & FY23 Sales Analysis

Royal Enfield Bikes	FY24 YTD	FY23	Difference	Growth % YoY	% Share FY 2023
< 350 cc	3,35,851	2,64,376	71,475	27.04	88.75
> 350 cc	42,555	48,496	-5,941	-12.25	11.25
Domestic	3,42,626	2,67,063	75,563	28.29	90.54
Exports	35,780	45,809	-10,029	-21.89	9.46
Total	3,78,406	3,12,872	65,534	20.95	100.00

It's great to see that Royal Enfield has shown strong performance in terms of fiscal year-to-date sales for FY24 compared to FY23.

Overall Sales Growth: Royal Enfield's fiscal year-to-date sales for FY24 have displayed robust growth, with a significant year-on-year (YoY) increase of 20.95%.

Sub-350cc Category: In the sub-350cc category, Royal Enfield experienced outstanding growth, with sales reaching 3,35,851 units. This represents a remarkable YoY increase of 27.04%.

Above-350cc Models: On the other hand, above-350cc models reported a decrease in sales, with 42,555 units sold, marking a 12.25% decrease compared to the previous year.

Domestic Market Performance: Royal Enfield performed exceptionally well in the domestic market, achieving a YoY growth of 28.29%. The company sold a total of 3,42,626 motorcycles within the domestic market.

Export Market Performance: However, in the export market, Royal Enfield encountered a decrease of 21.89%. The brand shipped 10,029 units less than in the previous year.

Cumulative Sales: The cumulative fiscal year-to-date sales for all categories and markets reached an impressive 3,78,406 units, reflecting a substantial YoY growth of 20.95%.

Overall, it seems that Royal Enfield has maintained strong sales performance domestically despite challenges in the export market and a decline in sales of above-350cc models. The growth in the sub-350cc category has been a significant contributor to the company's overall success in FY24 YTD.

But before you go, don’t forget to check out the latest news on the FADA sales report analysis for the month of August 2023!

Are you searching for a new bike? Explore bikejunction & compare your choice of bike, we will help you out with a bike loan. Select your bike according to category and other specifications on Bike Junction with just one click. Follow our news section or Social Media handles to get the latest news & updates related to the bike industry in India.

Follow us for Latest Bike Industry Updates
Facebook - https://bit.ly/BikeJunction_offl_fb
Instagram - https://bit.ly/BikeJunction_ofl_insta
Twitter - https://bit.ly/BikeJunction_ofl_twitter