Royal Enfield reports 10% growth in February sales
What's the story
Royal Enfield, India's largest bikemaker in the sub-500cc category, has reported a 10% sales growth in February, thanks to popular models like the Classic 350, Bullet 350, and the 650 Twins. The Chennai-based motorcycle maker sold 75,935 units in February 2024, a jump from 71,544 units during the same month last year. CEO B Govindarajan credited the growth to both new bike launches and the strong performance of existing models.
Sales performance
Domestic sales and export performance
In February 2024, domestic sales of Royal Enfield rose by 5%, with 67,922 units sold compared to 64,436 units in February 2023. Exports saw a more substantial increase of 13%, with 8,013 units exported in February 2024 compared to 7,108 units in the same month last year. Year-to-date (YTD) growth for domestic sales reached 14%, while exports experienced a decline of 22%.
Other news
Royal Enfield's global expansion and future outlook
Royal Enfield recently entered the Turkish market through a partnership with K-Rides Motosiklet ve Bisiklet San. ve Tic. A.Ş., a subsidiary of Kibar Holding. The company also celebrated the one-year anniversary of the Super Meteor 650 launch with nationwide community rides and events. Govindarajan expressed confidence in the company's strong overall performance as the financial year comes to an end and believes that the momentum can carry on into the next year.