Royal Enfield's total sales grow by 11% in February
What's the story
Royal Enfield has reported an impressive 11% year-on-year (YoY) increase in total sales for February, selling over one lakh units. The company's domestic sales rose by a whopping 13% during the month, compared to the same period last year. However, exports saw a slight decline of 2%, compared with the previous year's figures for February.
CEO statement
Royal Enfield announces capacity expansion plan
Commenting on the sales growth, Royal Enfield's CEO B Govindarajan said, "February continues the positive momentum we have seen this financial year, reflecting sustained demand across markets and our growing global community." To further support its current and future growth plans, the company recently announced a capacity expansion plan. This will be executed over 18 months through a brownfield expansion at its Cheyyar manufacturing facility in Tamil Nadu.
Expansion details
Proposed expansion to increase annual production capacity
The proposed expansion will increase Royal Enfield's annual production capacity from 14.6 lakh units to a whopping 20 lakh units. "Rooted in our long-term goal to build readiness into our operations, this expansion aims to serve our community as the demand grows," Govindarajan said. He added that they remain optimistic about the road ahead and are ready for future challenges and opportunities in the market.