Royal Enfield Bike Sales in August 2024

Royal Enfield has seen a decline in sales of 5.10% in August 2024 from the last year of the same month. Royal Enfield has introduced the new Classic 350, which is expected to significantly enhance sales in the sub-350cc segment in the coming months. This launch comes at a time when the company has reported mixed sales results for August 2024. 

Royal Enfield Sales Performance: August 2024

Year-on-Year (YoY) Sales Decline

In August 2024, Royal Enfield recorded a 5.10% decline in year-on-year (YoY) sales. The total sales, including both domestic and export markets, dropped from 77,583 units in August 2023 to 73,629 units in August 2024, a decrease of 3,954 units.

Month-on-Month (MoM) Sales Growth

Despite the YoY decline, month-on-month (MoM) sales showed positive growth. Royal Enfield sold 67,625 units in July 2024, which increased by 8.88% to 73,629 units in August 2024.

Sub-350cc Segment Performance

YoY and MoM Sales Analysis

Sales in the sub-350cc segment declined by 11.50% on a YoY basis, with 61,087 units sold in August 2024 compared to 69,023 units in August 2023. This represents a volume decrease of 7,936 units. However, MoM sales in this segment improved by 7.26%, with 4,137 more units sold compared to July 2024. Despite the decline, the sub-350cc segment still commanded an 82.97% share of Royal Enfield's total sales.

Performance of Bikes Above 350cc

Royal Enfield's larger bike segment (above 350cc) witnessed a substantial 46.52% YoY growth, with sales increasing from 8,560 units in August 2023 to 12,542 units in August 2024. MoM sales also showed a positive trend, with a 17.49% increase from 10,675 units sold in July 2024. This segment now holds a 17.03% share of the company’s total sales.

Domestic and Export Sales

Total domestic sales for Royal Enfield in August 2024 experienced a 5.43% YoY decline, with 65,623 units sold, compared to 61,568 units in July 2024. However, MoM sales saw a 6.59% improvement.

On the export front, Royal Enfield faced a 2.25% YoY decline, with 8,006 units shipped in August 2024, down from 8,190 units in August 2023. Despite this, MoM export sales surged by 32.18%, with 6,057 units shipped in July 2024.

Year-to-Date (YTD) Sales: April-August 2024

Royal Enfield's year-to-date (YTD) sales for the period April-August 2024 showed a 2.80% decline compared to the same period in 2023. Total sales dropped from 3,78,406 units in 2023 to 3,67,801 units in 2024, a decrease of 10,605 units.

Sub-350cc Segment YTD Performance

The sub-350cc segment saw a 7.14% decline in YTD sales, with 3,11,860 units sold, compared to 3,35,851 units during the same period last year. This reflects a difference of 23,991 units.

Growth in Larger Bike Segment YTD

In contrast, the larger bike segment experienced a 31.46% growth in YTD sales, with 55,941 units sold, marking a 13,386 unit increase over the 45,555 units sold in the same period of the previous year.

Future Outlook with the New Classic 350

The newly launched Classic 350, available in five variants and seven vibrant color options, is poised to boost sales in the sub-350cc segment. While retaining its iconic styling, the new Classic 350 comes with several feature updates, although it does not include any mechanical changes. It continues to compete with the Jawa 350 and Honda 350 in its segment.