Royal Enfield Sales Report - July 2024

Royal Enfield has experienced a decline in sales for July 2024, with a notable drop in both year-on-year (YoY) and month-on-month (MoM) figures. This report delves into the details of the sales performance, the segments affected, and the company's future prospects with new and upcoming models. Also in July, 2024 they launched Royal Enfield the new Guerrilla 450, a premium modern roadster priced from Rs 2.39 lakh (ex-showroom). 

Available in Analogue, Dash, and Flash variants, it is based on the Sherpa 450 platform and competes with the Triumph Speed 400 and Hero Maverick 440.

Sales Performance Overview

Year-on-Year (YoY) and Month-on-Month (MoM) Decline

In July 2024, Royal Enfield's total sales fell by 7.51% compared to July 2023, with 67,625 units sold, down from 73,117 units. Similarly, there was a 7.54% decrease compared to June 2024, when 73,141 units were sold.

Sub-350cc Segment

The sub-350cc segment, which includes popular models like the Classic, Bullet, Hunter, and Meteor, saw a significant decline. Sales dropped by 11.57% YoY to 56,590 units, down from 64,398 units in July 2023. This segment accounts for 84.21% of the company's lineup.

450-650cc Segment

Contrasting with the decline in the sub-350cc segment, the 450-650cc segment, which includes models such as the Himalayan 450 and Shotgun 650, along with the 650cc Twins, saw a positive growth of 22.43%. Sales increased to 10,676 units from 8,719 units in July 2023.

Domestic and Export Market Performance

Domestic Sales

Domestic sales declined by 6.80% to 61,568 units, compared to 66,062 units in July 2023. The month-on-month decline was 6.88% compared to June 2024.

Export Sales

Exports also suffered, with a decline of 14.15% YoY to 6,057 units from 7,055 units in July 2023. On a month-on-month basis, exports fell by 13.77% compared to 7,024 units shipped in June 2024.

Year-to-Date (YTD) Sales April-July 2024

• Royal Enfield's year-to-date performance from April to July 2024 has also been challenging:
• Sub-350cc Segment: Sales fell by 6.02% to 250,773 units from 266,828 units in the same period last year.
• 450-650cc Segment: This segment saw a 27.66% YTD growth, with 43,399 units sold, compared to 33,995 units last year.

Overall YTD Performance

• Domestic Sales: Declined by 2.69% to 265,894 units.
• Exports: Improved by 2.49% to 28,278 units.
• Total YTD Sales: Dropped by 2.21% to 294,172 units, compared to 300,823 units in the same period of 2023.