Royal Enfield August 2023 Sales Report Shows A 10.66% YoY Growth!

Royal Enfield has been a major motorcycle manufacturer, especially in the mid-size motorcycle market. The company boasts a diverse portfolio of bikes that spans across both >350 cc & <350 cc categories. In August 2023, the company announced remarkable growth both in terms of MoM & YoY basis. 

Royal Enfield YoY Sales Analysis

August 2023 has been a very successful month for the company, with amazing YoY & MoM growth. The company reported a total sales figure of 77,583 units in August 2023, as opposed to 70,112 units in August 2022. These numbers translated to a remarkable rise of 10.66% YoY growth. 

For the sub-350cc category, Royal Enfield's major offerings, such as - 

• Classic 350, 
• Hunter 350, 
• Meteor 350, and 
• Newly launched 2023 Bullet 350

Had a combined sales figure of 69,023 units. This segment saw a phenomenal increase of 10.91% when compared to August 2022. 

On the flip side, the above-350cc segment, including models such as - 

• Himalayan 411, 
• Scram 411, 
• Super Meteor 650, 
• Interceptor 650, and 
• Continental GT 650

Had combined sales figures of 8,560 units, reporting an overall 8.68% increase when compared to August 2022. 

These sales figures clearly showcase the brand’s firm foothold in the under 350cc segment, with a total market share of 88.97%. Even the above 350cc segment held a remarkable market share of 11.03%. 

Domestic sales of Royal Enfield witnessed an impressive growth of 10.34% YoY, with sales figures of 69,393 units for August 2023, as opposed to 62,892 units in August 2022. Export sales figures also experienced an uptick of 13.43% increase, with a total sales figures of 8,190 units. 

Royal Enfield MoM Sales Analysis

Looking at the MoM sales figure analysis, August 2023 continued the momentum that was seen in July 2023. The sales figures in the sub-350cc segment increased by 7.18%, with sales figures of 69,023 units this month. However, the above-350cc category saw a minor fall of 1.82%, reporting a total sales figure of 8,560 units. 

Domestically, Royal Enfield clocked in a total of 3,331 more units in August, as compared to July, translating to a 5.04% increase. Export-wise, the company reported a significant 16.09% MoM growth, shipping out an additional 1,135 units than in August. 

Royal Enfield FY24 YTD & FY23 Sales Analysis

It's great to see that Royal Enfield has shown strong performance in terms of fiscal year-to-date sales for FY24 compared to FY23. 

• Overall Sales Growth: Royal Enfield's fiscal year-to-date sales for FY24 have displayed robust growth, with a significant year-on-year (YoY) increase of 20.95%.

• Sub-350cc Category: In the sub-350cc category, Royal Enfield experienced outstanding growth, with sales reaching 3,35,851 units. This represents a remarkable YoY increase of 27.04%.

• Above-350cc Models: On the other hand, above-350cc models reported a decrease in sales, with 42,555 units sold, marking a 12.25% decrease compared to the previous year.

• Domestic Market Performance: Royal Enfield performed exceptionally well in the domestic market, achieving a YoY growth of 28.29%. The company sold a total of 3,42,626 motorcycles within the domestic market.

• Export Market Performance: However, in the export market, Royal Enfield encountered a decrease of 21.89%. The brand shipped 10,029 units less than in the previous year.

• Cumulative Sales: The cumulative fiscal year-to-date sales for all categories and markets reached an impressive 3,78,406 units, reflecting a substantial YoY growth of 20.95%.

Overall, it seems that Royal Enfield has maintained strong sales performance domestically despite challenges in the export market and a decline in sales of above-350cc models. The growth in the sub-350cc category has been a significant contributor to the company's overall success in FY24 YTD.

But before you go, don’t forget to check out the latest news on the FADA sales report analysis for the month of August 2023!

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