Royal Enfield’s sales rise 32% in July amidst new rivals from Harley, Triumph

Royal Enfield reported its sales for the month of July 2023 and the company sold 73,117 motorcycles, registering a year-on-year growth of 32 per cent. In contrast, the motorcycle giant sold 55,555 units during the same period last year. What’s noteworthy is that Royal Enfield’s sales increased amidst newer launches in the segment last month from Harley-Davidson and Triumph Motorcycles. Both companies have partnered with local players to penetrate the 350-450 cc modern-retro segment.

Royal Enfield’s domestic sales in July 2023 stood at 66,062 units, growing by 42 per cent year-on-year over 46,529 units sold in July 2022. Exports though declined by 22 per cent at 7,055 units, as against 9,026 units sold during the same period last year. With respect to month-on-month volumes, Royal Enfield registered a decline of 5.18 per cent when compared to 77,109 units sold in June this year.

Speaking about the sales performance in July 2023, B Govindarajan, CEO - Royal Enfield said, “July has been special, as we completed more than 2,00,000 sales for the Hunter 350 in this month. In less than a year since its launch, the Hunter has a young and vibing 2-lakh-strong community across the world. We’ve begun the second quarter on a strong note, after a stellar performance in the first quarter of this year. We are preparing for some big launches in the forthcoming months, and continue to focus on our strategic long-term goals"

Royal Enfield’s 350 cc range remains its growth driver with the Hunter and Classic being its largest-selling models. Sales for motorcycles up to 350 cc stood at 64,398 units in July, a growth of 39 per cent year-on-year when compared to 46,336 units sold in July 2022. Meanwhile, motorcycles sold up to 650 cc registered a 5 per cent decline with 8,719 units dispatched last month, as against 9,219 units during the same period last year.

Furthermore, Royal Enfield reported a strong first quarter of FY2024 with 300,823 units sold between April and July, registering a growth of 24 per cent as against 242,760 units sold during the same period last fiscal. Exports continue to be on a decline with 27,590 motorcycles shipped overseas, a drop of 29 per cent, as opposed to 38,589 units exported between April and July 2022.

Royal Enfield is expected to make a strong statement this festive season with multiple launches lined up over the next few months. This includes the new-generation Bullet 350, Himalayan 450, Classic 650, and more. The company is also working on an electric motorcycle that will arrive sometime in the future.