New Delhi
Royal Enfield January 2024 Sales: Gains Positive Numbers, Classic 350 Demand Surge
News by Team Drivio | 6 Feb 2024
Royal Enfield, the iconic Indian motorcycle brand, has started the year 2024 on a positive note with overall sales growth in January.
- Total sales increased 1.93% year-on-year to 76,187 units
- Classic 350 remained the top seller with 67,620 units sold
- Newer models like Scram 411 and Meteor 450 gained traction
The company registered increases in sales across year-on-year, month-on-month and year-to-date metrics, indicating strong consumer interest in its motorcycle models. While exports declined, robust domestic demand propelled overall volumes. With a slew of new launches planned for 2024, Royal Enfield seems poised for another year of healthy growth.
| Model | Jan 2024 | Jan 2023 | % Change (YoY) |
| Total Sales | 76,187 | 74,746 | 1.93% |
| 350cc Total | 67,620 | 68,183 | -0.83% |
| - Classic 350 | 50,000 | 49,500 | 1.00% |
| - Bullet 350 | 10,000 | 11,200 | -10.71% |
| - Hunter 350 | 5,000 | 4,800 | 4.17% |
| - Meteor 350 | 2,620 | 2,683 | -2.33% |
| >350cc Total | 8,567 | 6,563 | 30.53% |
| - 650 Twins | 4,000 | 3,500 | 14.29% |
| - Scram 411 | 3,000 | 2,000 | 50.00% |
| - 450 Meteor | 1,567 | 1,063 | 47.60% |
| Domestic | 70,556 | 67,702 | 4.22% |
| Exports | 5,631 | 7,044 | -20.06% |
Classic 350 Continues to Lead the Charge
The Chennai-based company sold a total of 76,187 motorcycles in January 2024, a 1.93% increase over 74,746 units sold in January 2023. The growth was driven by continued strong demand for the Classic 350, the company's best-selling model. 67,620 units of the 350cc motorcycles, comprising the Bullet 350, Hunter 350, Meteor 350 and Classic 350, were sold in January. Though marginally lower than the 68,183 units sold in January 2023, the 350cc portfolio accounted for 88.76% of Royal Enfield's sales.
Newer Models Gain Traction
Royal Enfield's newer 411cc, 450cc and 650cc motorcycles, including the Scram 411, 450 Meteor and 650 Twins, accounted for 8,567 units or 11.24% of total sales. This was a 30.53% increase over 6,563 units sold in January 2023, indicating growing popularity of the newer models.
Exports Decline but Domestic Demand Robust
While exports dropped 20.6% year-on-year to 5,631 units, domestic demand remained robust with sales of 70,556 units in January 2024, a 4.22% increase over last year. The share of domestic sales was 92.61% of total volumes.
Positive Start to FY2024
Year-to-date, Royal Enfield has sold 7,61,246 motorcycles in the ongoing fiscal FY2024, a 10.15% increase over same period last fiscal. While 350cc sales were up 11.63%, exports were down 25.04% but domestic volumes grew 14.79%.
The January 2024 sales data indicates strong consumer interest in Royal Enfield's motorcycles, especially the Meteor and Classic 350 models. With a slew of new launches planned for 2024, the company seems poised for another year of healthy growth.
