Continuing its steady growth, Royal Enfield revealed that it registered 10% growth in March 2024 with 66,044 motorcycles sold in the domestic market, as against 59,884 units it sold during the same period last year. Altogether, the marque sales grew by 5 per cent last month with a total of 75,551 units sold, as against 72,235 units it retailed in the same month last year.
This brings up the total sales of Royal Enfield to 9,12,732 units in the 2023-24 financial year. Which is an impressive 9 per cent growth registered in both domestic and exports. Interestingly, exports continued to decline and in March 2024, exports declined by 23 per cent with just 9,507 units exported, as against 12,351 units it exported last year in the same month. Whether the drop in exports is due to a decline in sales globally or the fact that Royal Enfield is priortising domestic sales is still unclear and we have got in touch with the brand to get further details.
(Also Read: Auto Sales February 2024: Royal Enfield Grows By 14%)
“We have outgrown the two-wheeler and motorcycle industry in the domestic market. All our motorcycles in the last two years have performed exceedingly well and have grown the market for Royal Enfield,” pointed out B Govindarajan, CEO, Royal Enfield. He further added, “Our non motorcycling business including apparel, spares and GMA continues to grow significantly. With our exciting lineup of products, we are confident that we will be able to sustain our growth momentum well in FY 2024-25.”
