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Royal Enfield's March 2024 MoM sales rose by 2.4%, with total sales hitting 75,551 units. Domestic sales surged by 10% YoY, while exports declined by 23%. Overall, strong market presence persists.
Key Highlights:
Compared to March 2023, with total sales reaching 75,551 units, the renowned classic motorcycle brand, Royal Enfield witnessed 5% increment in monthly sales in March 2024. With sales of 66,044 units in the domestic market the brand has showcased its dominance in the two-wheeler industry. Despite facing slight decrease in the export sales on YoY basis the brand has showcased impressive MoM sales growth, which must be due to efficient and effective expansion plans in the International Market of Europe and Japan.
Motorcycle | March’24 | February’24 | Growth% |
Domestic | 66,044 | 64,446 | 2.4% |
Exports | 9,507 | 7,108 | 33.7% |
Total | 75,551 | 71,554 | 5.5% |
<350 cc | 66,363 | 66,157 | 0.3% |
>350 cc | 9,188 | 9,778 | 6% |
Domestic sales increased by 2.4% in March 2024 compared to February 2024, reaching 66,044 units. Export sales surged by 33.7% in March 2024 compared to February 2024, totaling 9,507 units. Overall sales witnessed a growth of 5.5% in March 2024 compared to February 2024, amounting to 75,551 units. Sales of motorcycles with engine capacity less than 350 cc experienced a marginal growth of 0.3%. Sales of motorcycles with engine capacity greater than 350 cc saw a significant growth of 6%.
Motorcycle | March’24 | March’23 | Growth% |
Domestic | 66,044 | 59,884 | 10% |
Exports | 9,507 | 12,351 | -23% |
Total | 75,551 | 72,235 | 5% |
<350 cc | 66,363 | 62,726 | 6% |
>350 cc | 9,188 | 9,509 | -3% |
Domestic sales increased by 10% in March 2024 compared to March 2023, reaching 66,044 units. Export sales declined by 23% in March 2024 compared to March 2023, totaling 9,507 units. Overall sales grew by 5% in March 2024 compared to March 2023, amounting to 75,551 units. Sales of motorcycles with engine capacity less than 350 cc increased by 6%. Sales of motorcycles with engine capacity greater than 350 cc decreased by 3%.
Motorcycle | April’23 - March’24 | April’22 - March’23 | Growth% |
Domestic | 8,34,795 | 7,34,840 | 14% |
Exports | 77,937 | 1,00,055 | -22% |
Total | 9,12,732 | 8,34,895 | 9% |
Domestic sales for the financial year (April 2023 - March 2024) surged by 14% compared to the previous financial year, reaching 8,34,795 units. Export sales for the financial year declined by 22% compared to the previous financial year, totaling 77,937 units. Overall sales for the financial year witnessed a growth of 9% compared to the previous financial year, amounting to 9,12,732 units.
Sales of motorcycles with engine capacity less than 350 cc increased by 10% over the financial year. Sales of motorcycles with engine capacity greater than 350 cc grew by 2% over the financial year.
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Royal Enfield has showcased consistency with the monthly growth stats, though the company has faced 23% decline in export on YoY basis, with new expansion strategy we have seen the brand showcasing positive growth of 33.7% in March 2024 sales when compared with February 2024 sales. Overall, we can state that maintaining the same positive pace of growth Royal Enfield will continue to sustain its growth and leadership in the two-wheeler industry.
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