Royal Enfield January 2024 Sales Reach 76,187 Units

Overall Sales Performance

• Royal Enfield experienced a significant increase in sales, with a total of 76,187 motorcycles sold in January 2024 compared to 63,387 units sold in December 2023.
• This reflects a month-on-month (MoM) growth of 20.19%, indicating strong performance at the beginning of the new year.

Segment-wise Analysis:

>350 cc Segment

• The >350 cc segment saw substantial growth, with 67,620 units sold in January 2024 compared to 55,401 units sold in December 2023.
• This represents an impressive MoM growth of 22.06%, resulting in a volume gain of 12,219 units compared to the previous month.

<350 cc Segment

• The <350 cc segment also experienced growth, with 8,567 units sold in January 2024 compared to 7,986 units sold in December 2023.
• This indicates a MoM growth of 7.28%, contributing to the overall sales increase.

Domestic Sales

• Domestic sales showed robust growth, with 70,556 units sold in January 2024 compared to 57,291 units sold in December 2023.
• This represents a significant MoM growth of 23.15%, contributing significantly to the overall sales surge.

Export Sales

• Export sales, however, witnessed a decline, with 5,631 units sold in January 2024 compared to 6,096 units sold in December 2023.
• This reflects a MoM decrease of 7.63%, which offset some of the overall sales growth.
   

Royal Enfield January 2024 sales

The 350cc segment stands out as the main revenue generator for Royal Enfield, recording 67,620 units sold in January of the current year. Sales in this category remained relatively steady, experiencing only a slight year-on-year decrease of less than 1%. In comparison, the company had sold 68,183 units during the corresponding period last year. Currently, Royal Enfield offers four models within the 350cc range, namely Classic 350, Meteor 350, Hunter 350, and Bullet 350.

B Govindarajan, CEO, Royal Enfield said, “The last few months have been very exciting times for us at Royal Enfield, as also for motorcycling enthusiasts across the world. Our recently launched motorcycles continue to perform well across markets, and we have had a great start to the new year. We are confident that we will sustain our growth momentum for months to come.”

Royal Enfield product plans

Royal Enfield introduced three fresh offerings over the past half-year period. It all began with the unveiling of the next-generation Bullet 350 in September, followed by the Himalayan 450 in November, and culminating with the recent debut of the Shotgun 650 in January 2024. Currently, the company has several models in the pipeline, including the Bobber 350, Roadster 450, Scram 450, Scrambler 650, and others. However, there remains uncertainty regarding which model will hit the market next.

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