Royal Enfield faced a decline in sales in December 2023, both in the domestic market and exports. The total units sold, including both domestic and exports, were 63,387, marking a 7.33 percent decrease compared to the 68,400 units sold in December 2022. Additionally, on a month-on-month (MoM) basis, there was a 21.01 percent de-growth from the 80,251 units sold in November 2023.
Analyzing the year-over-year (YoY) and MoM sales in different segments, the sub-350cc category, consisting of models like Bullet, Electra, Classic, Meteor, and Hunter, experienced de-growth. Sales in this category dropped to 55,401 units in the last month, down from 61,223 units in December 2022, reflecting a volume de-growth of 5,822 units. Despite this decline, the sub-350cc segment maintained a significant share of 87.40 percent in the overall company lineup. MoM sales in this segment also fell by 25.41 percent from 74,275 units in November 2023 when the share percentage was 92.55.
On the other hand, motorcycles in the above 350cc segment, including models like Himalayan, Super Meteor, and 650 Twins, showed positive growth. YoY, sales in this segment increased by 11.27 percent to 7,986 units, up from 7,177 units in December 2022. MoM sales in this category also demonstrated growth, with a 33.63 percent increase from 5,976 units in November 2023. The total domestic sales in December 2023 were 57,291 units, showing a 4.23 percent YoY de-growth compared to 59,821 units in December 2022. MoM domestic sales also fell by 23.75 percent from 75,137 units in November 2023.
Regarding exports, Royal Enfield saw a 28.94 percent YoY degrowth, with 6,096 units shipped in December 2023 compared to 8,579 units in December 2022. However, on a MoM basis, exports grew by 19.20 percent from 5,114 units in November 2023.
Looking at the year-to-date (YTD) sales from April to December 2023, Royal Enfield achieved a total (domestic + exports) of 6,85,059 units, marking an 11.14 percent growth from the 6,16,370 units sold in the same period in 2022, resulting in a volume growth of 68,689 units.
Breaking down the sales by engine capacity, total sales up to 350cc grew by 13.20 percent to 6,11,947 units, up from 5,40,589 units sold in the April-December 2022 period, representing a volume growth of 71,358 units. However, in the above 350cc segment, sales dipped by 3.52 percent YTD to 73,112 units, down from 75,781 units sold in April-December 2022. The total sales in the 350cc and above category reached 6,30,273 units in April-December 2023, showing a 16.11 percent increase from 5,42,818 units sold in the same period in 2022.
On the export front, Royal Enfield faced a 25.51 percent YTD decline, with 54,786 units shipped from April to December 2023, compared to 73,552 units in the same period in 2022.
In December 2023, Royal Enfield introduced the Shotgun 650 globally in Los Angeles. The production-spec Shotgun 650 closely resembles the Shotgun 650 Motoverse Edition, offered in a limited edition of only 25 units. The Shotgun 650 shares its main frame with the Super Meteor 650 and incorporates engine specifications from other Royal Enfield bikes in the 650cc segment.
2024-01-03 16:20:59
