Royal Enfield Sales Report Nov 2023 Released | Shows a 13.40% YoY Growth

Royal Enfield has released its sales figures for November 2023. The company showed an impressive YoY growth of 13.40% but lagged in terms of MoM, experiencing a dip of 4.96%. As for the sales figures, RE reported total sales, including domestic & exports, it sold over 80,251 units last month, as compared to 70,766 units sold in November 2022.  
 

RE’s YoY & MoM Sales Figures for November 2023

Royal Enfield had a good November 2023, selling a total of 80,251 bikes in India and abroad. The sales figure of this month revealed a 13.40% increase compared to the same month last year when they sold 70,766 bikes. That's a growth of 9,485 units. The sales went up in both their smaller and larger bike categories and in both Indian and international markets.

Breaking it down, in the smaller bike category (sub-350cc), which includes models like Bullet, Electra, Classic, Meteor, and Hunter, they sold 74,275 bikes. This is a 12.61% increase from November 2022. However, if we compare it to the previous month, October 2023, there was a slight drop of 2.37%. Overall, Royal Enfield's bikes continue to be popular. 
 

The brand’s larger bikes, like the Himalayan, Super Meteor & 650 Twins; Royal Enfield, had a successful month in November 2023. They sold 5,976 units, marking a significant 24.24% growth compared to the same month last year when they sold 4,810 units. However, there was a noticeable month-on-month decline of 28.52%, as October 2023 saw 8,360 sold units. 
 

Domestically, Royal Enfield experienced a good sales surge of 14.26% YoY, with 75,137 units sold in November 2023, up from 65,760 units in November 2022. Yet, on a MoM basis, sales took a 7.19% dip, dropping from 80,958 units in October 2023. 
 

On the exports front, the brand recorded a 2.16% YoY growth and an impressive 47.08% MoM increase. In November 2023, Royal Enfield exported 5,114 units, compared to 5,006 units in November 2022 and 3,477 units in October 2023.  
 

Royal Enfield YTD Sales Apr-Nov 2023

From April to November 2023, Royal Enfield has seen a solid 13.45% YTD growth in total sales. The combined sales, both domestic and export, reached 6,21,672 units, showing an increase from 5,47,970 units in the same period of 2022. 
 

The star performers in this period were the sub-350cc bikes, with 5,56,546 units sold, marking a notable 16.10% growth from 4,79,366 units in the same period last year. This contributed significantly to the overall sales, accounting for an 89.52% share and a volume growth of 77,180 units. 
 

However, the larger bikes (above 350cc) faced a major drop, experiencing a 5.07% decline to 65,126 units in the Apr-Nov 2023 period, down from 68,604 units sold in the same eight months of the previous year. Currently, the share of bikes above 350cc stands at 10.48%.

Looking at domestic sales, there was an impressive YTD growth of 18.63%, reaching 5,72,982 units from 4,82,997 units in the corresponding period last year. On the flip side, exports took a hit, declining by 25.06% to 48,690 units in Apr-Nov 2023 from 64,973 units shipped during the same period in 2022. 
 

Before you go, did you read our recent news coverage on the newly launched 2024 Bajaj Chetak Urbane at Rs 1,15,001?

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