Royal Enfield Releases March 2024 Sales Figures Reporting A 5% YoY Growth

The iconic Indian motorcycle manufacturer Royal Enfield sales are released for March 2024 sales. The company’s overall sales rose to 75,551 units or 5% compared to the same month last year. Moreover, based on YTD, Royal Enfield increased by 9% and around 9,12,732 bikes in 2023-24.
 

Royal Enfield Domestic Sales 

In March 2024, Royal Enfield sold 66,044 units in domestic sales, marking a 10% increase compared to March 2023's sales of 59,884 units. However, there was a slight decline of 2.76% from February 2024's sales of 67,922 units. 

Over FY 2023-24, Royal Enfield sold 8,34,795 units domestically, a robust 14% increase over the previous FY sales of 7,34,840 units. Notable models contributing to sales include the Classic 350, Bullet 350, Hunter 350, and Meteor 350, which are popular among Indian consumers.

Royal Enfield Exports Sales 

Royal Enfield exported 9,507 units in March 2024, exhibiting an 18.65% increase from February 2024's 8,013 units. However, there was a 23% decline compared to March last year, which saw shipments of 12,351 units. Year-to-date (YTD) exports totalled 77,937 units in FY 23-24, witnessing a significant 22% decrease from the 1,00,055 units shipped in FY 22-23.

Royal Enfield recently introduced new models like the 650 Twins (Continental GT 650 and Interceptor 650) and Shotgun 650 in the North American market. Additionally, the Bullet 350 was launched in Japan, expanding the brand's global presence.

In March 2024, Royal Enfield manufactured and sold 75,551 units, reflecting a 5% YoY growth from the 72,235 units sold in March last year. However, there was a marginal 0.5% decline from February 2024's sales of 75,935 units. YTD, the company sold a total of 9,12,732 units, representing a significant increase of 77,837 units compared to the previous fiscal year's sales.

Official Statement Of Royal Enfield CEO

The CEO of Royal Enfield, B Govindarajan, said,” At Royal Enfield, we’ve had yet another year of very spectacular performance across the board. We have outpaced our pre-COVID numbers and have registered healthy growth. We have outgrown the two-wheeler and motorcycle industry in the domestic market. 

All our motorcycles in the last two years have performed exceedingly well and have grown the market for Royal Enfield. Our non-motorcycling business including Apparel, spares and GMA continues to grow significantly. With our exciting lineup of products, we are confident that we will be able to sustain our growth momentum well in FY 2024-25.” 

Before you go, don’t forget to check out the recently unveiled CFMoto 450CL-C motorcycle.

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