In March 2024, Royal Enfield, the iconic motorcycle manufacturer, demonstrated impressive sales figures across its diverse range of models. Royal Enfield, the iconic motorcycle brand, has once again demonstrated its robust presence in the global two-wheeler market with its sales performance for March 2024. Despite facing export market challenges, the company has shown commendable Year-over-Year (YoY) growth and a positive Month-over-Month (MoM) sales trajectory. Let’s delve into their sales figures for March 2024, analyzing both domestic and export performances. The company plans to introduce the new model Guerrilla 450, one of 5 new models, in this financial year.
Overall Sales breakdown of Royal Enfield
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Royal Enfield’s total sales for March 2024 stood at 75,551 units, a significant increase of 4.5% YoY from 72,235 units in March 2023. This growth is a testament to the brand’s continued popularity and expanding customer base. Royal Enfield sold 75,551 motorcycles in March 2024, reflecting a 4.5% YoY (year-on-year) growth compared to March 2023. However, there’s a slight MoM (month-on-month) decline of 0.5% compared to February 2024.
The new Himalayan 450 has gained an advantage in export with a surprising 340.10 % growth in the international market and the Hunter 350 has made a clear spot in the 350 segments in the domestic market. Royal Enfield has changed its strategy to target the market whether it is a domestic one or an export market.
—- Royal Enfield Sales Breakdown of March 2024
Performance of Royal Enfield in the Domestic Market
In March 2024, Royal Enfield’s domestic sales soared to 66,044 units, marking a significant 10% YoY growth from the 59,884 units sold in March 2023. This growth is attributed to the strong demand for models like the Classic 350 and Hunter 350, which continue to captivate the Indian market. The Classic 350 led the sales chart with 25,508 units sold last month, indicating a 4.5% YoY growth. The Hunter 350 also witnessed exceptional demand, boasting a 45.07% YoY and 29.53% MoM growth, with 15,702 units sold. No biggie, though! We all know Royal Enfield’s got what it takes to bounce back stronger than ever. 💪
| # | Domestic | Mar-24 | Mar-23 | Difference | % Growth YoY | % Share in Mar-24 |
|---|---|---|---|---|---|---|
| 1 | Classic 350 | 25,508 | 24,466 | 1042 | 4.6 | 38.63 |
| 2 | Hunter 350 | 15,702 | 10,824 | 4,878 | 45.06 | 23.77 |
| 3 | Bullet 350 | 11,262 | 11,969 | -707 | -5.90 | 17.04 |
| 4 | Meteor 350 | 8,963 | 6,211 | 2,752 | 44.32 | 13.58 |
| 5 | Himalayan | 2,216 | 2,633 | -417 | -15.84 | 3.35 |
| 6 | 650 Twins | 2,175 | 1,488 | 687 | 46.16 | 3.28 |
| 7 | Super Meteor 650 | 218 | 2,293 | -2,075 | -90.50 | 0.35 |
| – | Total | 66,044 | 59,884 | 6,610 | 10.29 | 100.00 |
Also Read: Battle of the Twins: Continental GT 650 vs Interceptor 650
| # | Domestic | Mar-24 | Feb-24 | Difference | % Growth MoM | % Share in Feb-24 |
|---|---|---|---|---|---|---|
| 1 | Classic 350 | 25,508 | 28,310 | -2,802 | -9.90 | 41.68 |
| 2 | Hunter 350 | 15,702 | 12,122 | 3,580 | 29.53 | 17.85 |
| 3 | Bullet 350 | 11,262 | 13,944 | -2,682 | -19.23 | 20.53 |
| 4 | Meteor 350 | 8,963 | 8,125 | 838 | 10.31 | 11.96 |
| 5 | Himalayan | 2,216 | 2,278 | -62 | -2.72 | 3.35 |
| 6 | 650 Twins | 2,175 | 2,070 | 105 | 5.07 | 3.05 |
| 7 | Super Meteor 650 | 218 | 1,073 | -855 | -79.68 | 1.58 |
| – | Total | 66,044 | 67,922 | -1,878 | -2.76 | 100.00 |
Model-wise Breakdown of Royal Enfield’s Sales
Royal Enfield’s bread and butter remains in its 350cc range, accounting for a whopping 90% of total domestic sales in March 2024. Here’s a closer look at the individual models:
- Classic 350: The undisputed champion, the Classic 350 raked in 25,508 units, a 4.26% YoY growth. However, it did experience a 9.90% MoM decline.
- Hunter 350: The new entrant, Hunter 350, has been a runaway success. It achieved a remarkable 45.07% YoY growth and a 29.53% MoM growth, selling a total of 15,702 units.
- Bullet 350: The legendary Bullet 350 witnessed a decline, selling 11,262 units. This represents a 5.91% YoY drop and a 19.23% MoM decline.
The MoM sales performance also reflected negative trends, with domestic sales dipping by 2.76% in March 2024 compared to February 2024, reaching 66,044 units. The overall sales witnessed a growth of 4.5% in March 2024 compared to February 2024, amounting to 75,551 units.
The sales breakdown reveals that motorcycles with engine capacity less than 350 cc experienced a marginal growth of 0.3%, while those with engine capacity greater than 350 cc saw a significant growth of 6%. This indicates a diverse consumer preference and Royal Enfield’s ability to cater to different segments of the market.
The financial year performance from April 2023 to March 2024 also paints a promising picture for Royal Enfield, with domestic sales surging by 14% compared to the previous financial year, reaching a total of 834,795 units. The overall sales for the financial year witnessed a growth of 9%, amounting to a total of 912,732 units.
Performance of Royal Enfield in the Export Market
Things were a bit different overseas. Royal Enfield’s exports took a 35% dive compared to last March. But hey, there’s always a silver lining! Exports went up by 18.64% from February. On the export front, RE faced a 35.03% YoY decline in exports, with the export volume decreasing from 12,351 units in March 2023 to 9,507 units in March 2024. However, there was an 18.64% MoM improvement from February 2024, showcasing the brand’s resilience and adaptability in challenging market conditions.
| # | Exports | Mar-24 | Mar-23 | Difference | % Growth YoY | % Share in Mar-24 |
|---|---|---|---|---|---|---|
| 1 | Classic 350 | 1,598 | 2,597 | -999 | -38.47 | 16.81 |
| 2 | Hunter 350 | 1,114 | 4,814 | -3700 | -76.86 | 11.72 |
| 3 | Bullet 350 | 400 | 0 | 400 | – | 4.21 |
| 4 | Meteor 350 | 1,816 | 1,641 | 175 | 10.66 | 19.10 |
| 5 | Himalayan | 2,667 | 606 | 2,061 | 340.10 | 28.05 |
| 6 | 650 Twins | 653 | 1,015 | -362 | -35.67 | 6.87 |
| 7 | Super Meteor 650 | 1,259 | 1,678 | -419 | -24.97 | 13.24 |
| – | Total | 9,507 | 12,351 | -2,844 | -23.03 | 100.00 |
Globally, adventure seekers seem to be calling the shots. The Himalayan motorcycle became the top export, with sales climbing a whopping 340% year-over-year! The Meteor 350 also did well internationally, with a 10% increase in exports compared to last year. Looks like Royal Enfield’s got some serious globetrotting swagger! 🌎
Also Read: Royal Enfield Classic 350: A Timeless Retro Cruiser
| # | Exports | Mar-24 | Feb-24 | Difference | % Growth MoM | % Share in Feb-24 |
|---|---|---|---|---|---|---|
| 1 | Classic 350 | 1,598 | 1,283 | 315 | 24.55 | 16.01 |
| 2 | Hunter 350 | 1,114 | 873 | 241 | 27.61 | 15.61 |
| 3 | Bullet 350 | 400 | 321 | 79 | 24.61 | 4.01 |
| 4 | Meteor 350 | 1,816 | 1,251 | 565 | 45.17 | 19.10 |
| 5 | Himalayan | 2,667 | 1,560 | 1,107 | 70.96 | 19.47 |
| 6 | 650 Twins | 653 | 601 | 52 | 8.65 | 7.50 |
| 7 | Super Meteor 650 | 1,259 | 2124 | -865 | -40.73 | 26.51 |
| – | Total | 9,507 | 8,013 | 1,494 | 18.64 | 100.00 |
So, what can we expect from Royal Enfield? More exciting bikes and a continued focus on capturing the international market. Get ready to see these legendary motorcycles on roads all over the world!
What’s Next
Overall, Royal Enfield’s March 2024 sales paint a mixed picture. While domestic sales remain strong, particularly for the 350cc range, exports need some revival. The success of the Hunter 350 is a bright spot, and the Himalayan’s strong export performance indicates potential in the adventure segment.
As RE gears up for the launch of new models, including the anticipated Guerrilla 450 and Hunter 450, the company is poised for further expansion and innovation in the coming fiscal year. The sales figures for March 2024 are a testament to Royal Enfield’s enduring legacy and its unwavering commitment to excellence in the motorcycle industry. 🌟
Disclaimer: All the information and sales-related figures are collected from various authentic sources. If you have any queries feel free to contact Us at support@youthsadda.com.
FAQs
Which is the highest selling Royal Enfield bike?
The Classic 350 is the highest-selling model of Royal Enfield in India.
Which is the most selling model of Royal Enfield in Abroad?
The New Himalayan 450 is the most selling model of Royal Enfield in Abroad.
Which is the lowest selling model of Royal Enfield in India?
The Super Meteor 650 is the lowest selling model of Royal Enfield in India.
Which is the fastest Royal Enfield in 2024?
The Continental GT 650 is the fastest Royal Enfield in 2024.
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