Royal Enfield just released their sales report for the month of February 2023. The brand saw a rise in sales for both domestic and exports, witnessing a total sales of 71,544 units in Feb 2023. This marked a 20.93% YoY growth, with 59,160 units sold in Feb 2022. However, MoM sales saw a dip of 4.28%, with 74,746 units sold in Jan 2023.
Royal Enfield Hunter 350 majorly contributed to their increased sales number. It was first launched in August 2022 and hit its 1 lakh unit sales milestone in just 6 months, which made it the 2nd highest-selling bike by RE after Classic 350. The brand added a few additional features and new colour options to its 650 Twins. Furthermore, the company is also soon launching its Continental GT & Interceptor in India.
|Royal Enfield||Feb 2023||Feb 2022||Difference||Growth % YoY||% Share Feb 2023|
|< 350 cc||64,810||49,484||15,326||30.97||90.59|
|> 350 cc||6,734||9,676||-2,942||-30.41||9.41|
Royal Enfield accounted for a total sales units in Feb 2023 of 71,544 units, out of which domestic sales counted for 64,436 units taking a 23.59% rise YoY as opposed to 52,135 units sold in Feb 2022. However, when looking at the MoM basis, the domestic sales saw a dip of 4.82%, with 67,702 units sold in Jan 2023.
On the other hand, exports increased by 1.18%, with 7,108 units in Feb 2023 as opposed to 7,025 units sold in Feb 2022. Exports on an MoM basis also saw a small rise of 0.91%, with 7,044 units shipped in Jan 2023.
|Royal Enfield||Feb 2023||Jan 2023||Difference||Growth % MoM||% Share Jan 2023|
|< 350 cc||64,810||68,183||-3,373||-4.95||91.22|
|> 350 cc||6,734||6,563||171||2.61||8.78|
Motorcycles in the sub 350cc category accounted for the majority of Royal Enfield sales in Jan 2023. The sales number accounted for an increase of 30.97% YoY, with 64,810 units in Feb 2023, as opposed to 49,484 units sold in Feb 2022. This took the total percentage share of 90.59% for Feb 2023.
However, RE Bikes in more than 350cc suffered and saw a YoY dip of 30.41% with 6,734 units in Feb 2023, as opposed to 9,676 units sold in Feb 2022. However, looking at the numbers on an MoM basis, a 2.61% growth could be seen, with 6,563 units sold in Jan 2023.
|Royal Enfield||YTD FY 2023||YTD FY 2022||Difference||Growth % YoY||% Share FY 2023|
|< 350 cc||6,73,582||4,50,569||2,23,013||49.50||88.32|
|> 350 cc||89,078||84,022||5,056||6.02||11.68|
Royal Enfield saw spectacular growth in domestic sales and export as per their Year-to-Date sales number. In April-Feb 2023 period, total sales saw a rise of 42.66%, with 7,62,660 units in 2023 as compared to 5,34,591 units in 2022, accounting for a total volume growth of 2,28,069 units.
Domestic sales also saw an increase of 45.85%, with 6,74,956 units sold in FY2023 as opposed to 4,62,759 units sold in FY 2022. Bikes in the 350 cc segment contributed majorly with 6,73,582 units of total sales, accounting for a rise of 49.50% when compared to 4,50,569 units sold in FY 2022. This took their market to 88.32%. The bikes with a larger cubic capacity of the engine saw a rise of 6.02%, with 89,078 units sold in FY 2023 as compared to 84,022 units sold in FY 2022. This took a market share of 11.68%.
Before you go, check out the ultimate comparison between the Old & New Royal Enfield Interceptor 650!
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
Youtube - https://bit.ly/BikeJunctionYUT