Royal Enfield has just launched the new Classic 350 that will play a major role in significantly boosting sales in the sub-350cc segment in the months ahead
Royal Enfield has posted lower sales in August 2024 with a 5.10% YoY decline. Total sales (domestic + exports) which had stood at 77,583 units in August 2023, dipped by 3,954 units to 73,629 units in the August 2024 period. MoM sales were more positive with an 8.88% growth over 67,625 units sold in July 2024.
Royal Enfield YoY and MoM Sales August 2024
Royal Enfield saw its sales in the sub-350cc segment dip by 11.50% on a YoY basis while it was only larger bikes in the company lineup that saw outstanding growth. Sub-350cc bike sales accounted for 61,087 unit sales last month, an 11.50% YoY decline from 69,023 units sold in August 2023 while MoM sales improved by 7.26%. This was a 7,936 unit volume YoY degrowth with the segment commanding an 82.97% share while MoM sales improved by 4,137 units.
Bikes in the larger than 350 cc segments posted a 46.52% YoY growth to 12,542 units, up from 8,560 units sold in August 2023. MoM sales also ended positively by 17.49% from 10,675 units sold in July 2024. This segment commands a 17.03% share. Total domestic sales thus ended with a 5.43% YoY decline to 65,623 units in the past month while MoM sales improved by 6.59% over 61,568 units sold in July 2024. Though exports also suffered a 2.25% YoY decline to 8,006 units from 8,190 units shipped in August 2023, it made up in numbers on a MoM basis with a massive 32.18% progress from 6,057 units shipped in July 2024.
Royal Enfield YTD Sales April-August 2024
Royal Enfield has announced that their year-to-date (YTD) sales have witnessed a drop of 2.80% during the period April-August 2024 when compared to the sales figures during the same period of 2023. Sales fell to 3,67,801 units in the 2024 period over 3,78,406 units sold in the FY24 YTD period. This was a volume decline by 10,605 units.
Sales declined in the sub-350cc segment by 7.14% to 3,11,860 units, a difference of 23,991 units when compared to sales of 3,35,851 units during the corresponding period of last year. Sales of its larger bikes however, showed off a 31.46% YTD growth. Sales stood at 55,941 units, a 13,386 unit improvement over 45,555 units sold in the April-August 2023 period.
Total domestic sales in the YTD period thus dipped 3.24% on account of lower sub-350cc sales to 3,31,517 units in the April-August 2024 period. This was over 3,42,626 units sold in the same period last year. Exports on the other hand improved only marginally by 1.41% from 35,780 units shipped in the April-August 2023 period to 36,284 units in the same period of the current year.
Sales are sure to be boosted in the sub-350cc segment with the new Classic 350 which has been launched in 5 variants and 7 exciting colour options. This volume driver, even as it retains its styling, sees a host of feature updates but does not come in with any mechanical changes. It continues to rival the Jawa 350 and Honda 350 in its segment.
