Overall, the company saw a 2 percent growth, driven by a notable 4 percent year-over-year (YoY) increase in domestic sales and a 23 percent month-over-month (MoM) surge.
However, the company’s exports fell by a significant 20 percent and a 7.63 percent on the MoM basis.
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The 350cc category remains Royal Enfield’s primary revenue generator, with 67,620 units sold in January. Although sales in this segment saw a marginal YoY decline of less than 1%, it’s worth noting that the company sold 68,183 units during the corresponding month last year.
Sales of motorcycles larger than 350cc experienced significant growth, increasing by nearly 31 percent to reach 8,567 units in January 2024, compared to 6,563 units the previous year.
The manufacturer debuted three new products in the last six months: the new-gen Bullet 350 in September, Himalayan 450 in November, and the latest Shotgun 650 in January 2024.
In recent developments, the company displayed the Classic 350 ‘flex fuel’ at the recently concluded Bharat Mobility Global Expo 2024. While the model is still in concept stages, it will be able to run on up to E85 ethanol-blended fuel when it hits the street in the future.
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