Royal Enfield volume grows 22% in May 2023; highest-ever monthly sales for Hunter
Royal Enfield reported its sales for May 2023 and the two-wheeler giant posted a 22 per cent growth in cumulative volumes (domestic + exports) last month. The company sold 77,461 units in May, as against 63,643 units during the same period last year. The previous month also saw the Royal Enfield Hunter 350 register its highest-ever monthly sales in the market.
With respect to domestic volumes, Royal Enfield’s sales stood at 70,795 units, up by 32 per cent when compared to 53,525 units sold in May 2022. However, the manufacturer recorded exports of 6,666 units, witnessing a decline of 34 per cent when compared to 10,118 units shipped overseas during the same period last year. RE stays in the green with respect to year-to-date sales as well with cumulative volumes parked at 1,50,597 units between April and May 2023, a growth of 20 per cent over 1,25,798 units sold during the same period last fiscal.
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Speaking about the sales performance in May, B Govindarajan, CEO, Royal Enfield said, “At Royal Enfield, we have been able to maintain excellent momentum. Hunter continues to perform very well and has registered the highest-ever sales in a single month. I am also elated to share that last month we launched the Super Meteor 650 in the Australia and New Zealand market and the response from the consumers has been incredible."
The fourth quarter of FY2023 brought strong results for Royal Enfield with the company posting strong financial growth. Revenue in Q4 FY2023 stood at ₹3,804.32 crore, witnessing a growth against ₹3,193.32 crore in Q4 FY2022 and ₹3,721 crore at the end of Q3 FY2023. The manufacturer also witnessed a consolidated net profit of ₹906 crore for the March quarter, a hike of 49 per cent, owing to robust sales in domestic and global markets due to robust sales in domestic and global markets.
Royal Enfield is lining up multiple new launches in the current fiscal that includes the highly-awaited Himalayan 450, as well as new variants based on the J-Platform as well the 650 Twin platform. The upcoming offerings will further help RE consolidate its position in the global mid-size motorcycle segment, especially against newer rivals coming from Harley-Davidson.
