Royal Enfield January 2024 Sales: Gains Positive Numbers, Classic 350 Demand Surge
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Royal Enfield January 2024 Sales: Gains Positive Numbers, Classic 350 Demand Surge

News by Team Drivio | Feb 06, 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.

ModelJan 2024Jan 2023% Change (YoY)
Total Sales76,18774,7461.93%
350cc Total67,62068,183-0.83%
- Classic 35050,00049,5001.00%
- Bullet 35010,00011,200-10.71%
- Hunter 3505,0004,8004.17%
- Meteor 3502,6202,683-2.33%
>350cc Total8,5676,56330.53%
- 650 Twins4,0003,50014.29%
- Scram 4113,0002,00050.00%
- 450 Meteor1,5671,06347.60%
Domestic70,55667,7024.22%
Exports5,6317,044-20.06%

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.