Royal Enfield, the popular motorcycle brand from Chennai, had an impressive performance in January 2024, selling a total of 76,187 units. Let’s break down the details:
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Domestic and Export Sales:
- Out of the total, 70,556 units were sold within the country, and 5,631 units were exported to international markets.
- The overall growth for Royal Enfield was 2%, fueled by a 4% increase in domestic sales and a significant 23% jump in monthly sales.
Product Range:
- Royal Enfield offers motorcycles with four different engine specifications: 350cc, 411cc, 450cc, and 650cc.
Growth Breakdown:
- The company experienced a 2% overall growth, with a 4% year-over-year increase in domestic sales.
- Monthly sales showed an impressive 23% surge. However, the export numbers took a hit, declining by 20% overall and 7.63% on a monthly basis.
Segment-wise Sales:
- The 350cc category remains the primary revenue generator, with 67,620 units sold in January. Despite a slight year-over-year decline of less than 1%, it’s worth noting that the company sold 68,183 units in the same month last year.
- Sales of motorcycles larger than 350cc saw a significant growth of almost 31%, reaching 8,567 units in January 2024, compared to 6,563 units the previous year.
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New Product Introductions:
- Royal Enfield introduced three new products in the last six months: the new-gen Bullet 350 in September, Himalayan 450 in November, and the latest Shotgun 650 in January 2024.
Upcoming Innovation:
- The company showcased the Classic 350 ‘flex fuel’ at the Bharat Mobility Global Expo 2024. While still in the concept stage, this model will be capable of running on EBS ethanol-blended fuel when it hits the streets in the future.