Royal Enfield Breaks Sales Record with 8.34 Million Motorcycles in FY 2023

CalenderPublished at April 3, 2023 by BikeJunction
Royal Enfield Breaks Sales Record with 8.34 Million Motorcycles in FY 2023

In March 2023, Royal Enfield saw its sales (both domestic and export) increase by 6.73 percent. The company sold 72,235 units in the month, compared to 67,677 units in the same period last year.

Royal Enfield Sales:  March 2023

The company sold 59,884 units in domestic markets in March ‘23, which was 2.41 percent higher than the 58,477 units sold in March 2022. This volume grew by 1,407 units, with a market share of 82.90 percent. However, compared to Feb 2023, it declined 7.06 percent from 64,436 units.

RE SalesMarch 2023March 2022DifferenceGrowth%(YoY)%Share March 2023
Domestic Sales59,88458,4771,4072.4182.9
Exports12,3519,2003,15117.117.1
Total Sale72,23567,6774,558100100

 

RE SalesMarch 2023February 2022DifferenceGrowth%(MoM)%Share Feb 23
Domestic Sales59,88464,436-4,552-7.0690.06
Exports12,3517,108524373.769.94
Total Sale72,23571,5446910.97100

 

RE SalesFY 2023FY 2022DifferenceGrowth%(YoY)%Share FY 2023
Domestic Sales7,34,8405,21,2362,13,60440.9888.02
Exports1,00,05581,03219,02323.4811.98
Total Sale8,34,8956,02,2682,32,62738.63100


Exports grew more significantly by 34.25 percent. Company sold  12,351 units in March’23, up from 9,200 units in March 2022 with a market share of 17.10 percent. Compared to Feb 2023, exports increased by 73.76 percent from 7,108 units.

RE Sets New Milestone in Financial Year Sales

In FY 2022-23, the company sold 7,34,840 units in domestic markets. This was a 40.98 percent increase over the 5,21,263 units sold in FY 2021-22, with volume growth of 2.13.604 units. As a result, domestic sales had an 88.02 percent market share.

In FY 2022-23, the company also sold 1,00,055 units in exports. This was a 23.48 percent rise from the 81,032 units sold in FY 2021-22, with a market share of 11.98 percent. This brought the total sales (domestic + exports) to 8,34,895 units in FY 2022-23 from 6,02,268 units in FY 2021-22. This was a volume growth of 2,32,627 units and the highest overall sales ever for the company.

Will FY 2024 See RE Break its Sales Record Again?

RE is likely to surpass its sales record in FY2024. In addition, the company has several new products lined up for the next year, which will enhance their sales even more.

Royal Enfield launched their premium bikeSuper Meteor 650 cruiser– at the beginning of 2023. They also upgraded the 650 INT and GT 650 with new features, colours and engines that meet the new BS6 Phase 2 emission standards

Interceptor 650 costs an ex-showroom price between Rs 3.03 lakh and Rs 3.31 lakh. The Continental GT 650 has a price range of Rs 3.19 lakh to Rs 3.45 lakh, up to Rs 14,000 more than the previous models.

RE has more 650 cc bikes in the pipeline. Some expected RE 650cc models are Scram 650cc, Classic 650 and Himalayan 650. In the 35 0cc segment, RE will launch the new-gen Bullet 350 and Electra 350 later this year.

Do you know that Niranjan Gupta to take over as Hero MotoCorp CEO from May 1.

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