Auto Sales February 2024: Royal Enfield Grows By 14%

Royal Enfield announced its sales performance for February 2024. The Chennai-based two-wheeler manufacturer reported a 10 percent Year-to-date (YTD) sales growth with 8,37,181 units retailed till last month, compared to 7,62,660 units in the same period before. 

In the domestic market alone, the marque’s overall YTD sales grew by 14 percent with 7,68,751 units retailed, as against 6,74,956 units retailed before. As for its  Year-Over-Year (Y-o-Y) sales, RE sold 67,922 units last month in the domestic market which is a 5 percent growth compared to the 67,922 units it sold in February 2023. 

Royal Enfield’s export figure also grew by 13 percent with 8,013 exported last month, compared to 7,108 units it exported in February 2023. Cumulatively, in February 2024 Royal Enfield retailed a total of 75,935 units which is a 6 percent Y-oY growth compared to 71,544 units it retailed in February 2023. 

Speaking about this sales performance, B Govindarajan, CEO, Royal Enfield said, “Over the last few months, while our new motorcycle launches have done exceedingly well, our existing motorcycles have also contributed to our strong growth momentum across bookings and retails. Last month, as well, our bookings and retails continued to grow at healthy levels.”

Royal Enfield also announced its foray into the Turkish market last month. The marque entered into a partnership with K-Rides Motosiklet ve Bisiklet San. ve Tic. A.S, a subsidiary of Kibar Holding for this purpose, and the latter will retail RE bikes in the region. A flagship store in Istanbul is also scheduled to open in spring. 

(Also Read: RE Shotgun 650 vs RE Super Meteor 650: Spec Comparison)

“In February we also celebrated one year of the launch of our thoroughbred cruiser, The Super Meteor 650, which was marked by nationwide community get-togethers and rides,” added B Govindarajan. “As we come to the close of the financial year, we are confident of a strong and healthy overall performance, and believe that we can continue this momentum for the next year as well,” he concluded.