Royal Enfield Sales Report October 2023 Reveals A 2.68% YoY & 7.45% MoM Growth

Published at November 6, 2023 by BikeJunction

Royal Enfield Sales Report October 2023 Reveals A 2.68% YoY & 7.45% MoM Growth

In October 2023, Royal Enfield witnessed growth in both YoY & MoM across its sub-350cc and above-350cc bike categories. The sales ended on a positive note in domestic markets. However, exports experienced a slight dip.

Royal Enfield: YoY Sales October 2023

Royal Enfield's total sales (domestic + exports) witnessed a 2.68% YoY growth, with 84,435 units sold in October 2023. However, the company sold 82,235 units last year, relating to volume growth of 2,200 units. The company witnessed a growth of 5.79% in domestic sales, with 80,958 units sold. The company sold 76,528 units last year, with a 95.88% market share. However, the exports witnessed a fall of 39.07%, with 3,477 units exported this year compared to 5,707 units last year.

Royal Enfield	Oct’23	Oct’22	Diff	Growth% YoY	% Share Oct 23
<350 cc	76,075	74,828	1,247	1.67	90.10
>350 cc	8,360	7,407	953	12.87	9.90
Domestic	80,958	76,528	4,430	5.79	95.88
Exports	3,477	5,707	-2,230	-39.07	4.12
Total	84,435	82,235	2,200	2.68	100.00

Royal Enfield	Oct’23	Sept 23	Diff	Growth% MoM	% Share Sept 23
<350 cc	76,075	70,345	5,730	8.15	89.52
>350 cc	8,360	8,235	125	1.52	10.48
Domestic	80,958	74,261	6,697	9.02	94.50
Exports	3,477	4,319	-842	-19.50	5.50
Total	84,435	78,580	5,855	7.45	100.00

Royal Enfield	FY24 YTD	FY23	Diff	Growth% YoY	% Share FY24
<350 cc	4,82,271	4,13,410	68,861	16.66	89.08
>350 cc	59,150	63,794	-4,644	-7.28	10.92
Domestic	4,97,485	4,17,237	80,608	19.32	91.95
Exports	43,576	59,967	-16,391	-27.33	8.05
Total	5,41,421	4,77,204	64,217	13.46	100.00

In terms of bikes, the company witnessed huge demand in the sub 350cc segment. This segment witnessed a growth of 1.67% YoY, with 76,075 units sold in October 2023 compared to 74,828 units sold last year. In the above 350cc segment, the company witnessed a growth of 12.87% YoY. The company sold 8,360 units this year as opposed to 7,407 units sold last year.

Speaking of MoM, the company witnessed a growth of 7.45%, with 78,580 units sold in September 2023. The company witnessed a growth of 9.02% across domestic sales, with 74,261 units sold in September 2023. However, the exports witnessed a fall of 19.50%, with 4,319 units exported in September 2023. Additionally, 350cc bikes witnessed an improvement of 8.15% MoM, above 350 cc segment witnessed a growth of 1.52%.

Royal Enfield: YTD Sales FY24 Vs FY23

Speaking of sales figures for FY24 YTD, Royal Enfield witnessed strong growth compared to the same period in FY23). In the FY2024 period, the company witnessed 13.46% growth, with 5,41,421 units sold, having a volume growth of 64,217 units. The company sold 4,77,204 units in the same period of FY23.

The sub-350cc segment includes the Classic 350, Hunter 350, Meteor 350 & the new 2023 Bullet 350. This segment witnessed a growth of 16.66%, with 4,82,271 units sold compared to 4,13,410 units sold in FY23. However, The above-350 cc segment had to witness a decline of 7.28% to 59,150 units in FY24 from 63,794 units sold in FY23. This segment includes the Himalayan 411, Scram 411, Super Meteor 650, Interceptor 650 & Continental GT 650.

Domestic sales witnessed a growth of 19.32%, with 4,97,845 units sold compared to 4,17,237 units sold in FY23. However, the exports witnessed a fall of 27.33%, with 43,576 units exported in FY24 as opposed to 59,967 units exported in FY23.

New Launch: Himalayan 450

Ahead of its scheduled launch this month, the company has unveiled the new Himalayan 450, signalling the discontinuation of the current Himalayan 411. The new Himalayan 450 will compete against the recently launched Triumph Scrambler 400X, the upcoming KTM 390 Adventure, 390 Enduro & Hero Xpulse 440.

Till we get more information about the new launches & updates, read about the New Launched Honda 2024 Forza 125 & Forza 350 in Europe!

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