Two-Wheeler Sales January 2024: Domestic Sales Drive Royal Enfield’s Growth

Royal Enfield announced its sales figures for January 2024 reporting a relatively flat showing with a 2 per cent cumulative growth. The company reported cumulative sales of 76,187 motorcycles, up from 74,746 motorcycles in the same period last year. Sales, however, were notably higher - up 20 per cent - than in December 2023 when the company sold a cumulative 63,387 units.

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The domestic market played a key role in the brand posting positive growth in the month, with sales reaching 70,556 units, a 4 per cent increase from the previous year's 67,702 units. Exports continued to remain on a downward trend with 5,631 units exported in January 2024 as compared to 7,044 units last year - down 20 per cent.

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Meanwhile, the year-to-date (YTD) figures for the financial year 2023-24 highlighted a more robust performance, as domestic sales reached 7,00,829 units, a substantial 15 per cent growth compared to the 6,10,520 units sold in the 2022-23 financial year. On the international front, the YTD figures for the financial year 2023-24 stood at 60,417 units, marking a 25 per cent decrease from the 80,596 units exported in the 2022-23 financial year.

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Despite the dip in exports, the overall global performance remained positive. The cumulative YTD sales for the financial year 2023-24 reached 7,61,246 units, showcasing a 10 per cent growth compared to the 6,91,116 units sold in the 2022-23 financial year.

B Govindarajan, CEO, Royal Enfield said, “The last few months have been very exciting times for us at Royal Enfield, as also for motorcycling enthusiasts across the world. Our recently launched motorcycles continue to perform well across markets, and we have had a great start to the new year. We are confident that we will sustain our growth momentum for months to come.”

Written by: RONIT AGARWAL