Royal Enfield’s January 2024 sales report reveals intriguing insights into the performance of its iconic 350cc portfolio. The lineup, comprising the Bullet 350, Hunter 350, Meteor 350, and the ever-popular Classic 350, maintained its stronghold in the market. Despite a slight 0.83% YoY decline, the Classic 350 emerged as the best-selling model, contributing significantly to the company’s sales with unprecedented popularity, totaling 67,620 units.
Compared to the previous year, Royal Enfield experienced a notable 22.06% MoM growth in 350cc motorcycle sales, showcasing a promising start to the new year. Additionally, the company’s 411cc, new 450cc, and 650cc motorcycles collectively witnessed a remarkable 30.53% YoY growth, selling 8,567 units, further consolidating Royal Enfield’s position in the market.
Domestically, Royal Enfield’s performance remained robust, with total domestic sales reaching 70,556 units, reflecting a 4.22% YoY growth. This exceptional performance was complemented by a remarkable 23.15% MoM growth, indicating strong consumer demand and market confidence.
However, the export segment experienced a 20.6% YoY decline, with 5,631 units shipped in January 2024. Despite this, Royal Enfield’s total sales for the month amounted to 76,187 units, marking a 1.93% YoY growth and a notable 20.19% MoM growth.
Looking at the year-to-date (YTD) figures, Royal Enfield achieved a positive growth trajectory, with the 350cc portfolio witnessing an 11.63% increase in sales compared to the previous fiscal year. Moreover, total domestic sales for FY24 reached 7,00,829 units, showcasing a robust 14.79% YoY growth.
In conclusion, Royal Enfield’s January 2024 sales report underscores its resilience and market strength, driven by the enduring popularity of its 350cc models and sustained domestic performance. Despite challenges in the export segment, the company remains poised for continued growth and success in the coming months.
