BackRoyal Enfield April sales increase to 73,136 units, exports declined by 49 per cent
Royal Enfield said that domestic sales grew 28 per cent to 68,881 units from 53,852 units in the year-ago month. Exports, however, declined by 49 per cent last month to 4,255 units compared to 8,303 months in April 2022.
PremiumMotorcycle maker Royal Enfield posted an 18 per cent growth in total sales in the month of April, 2023. The company sold 73,136 units last month compared to 62,155 units in the April last year.
In a statement, the company said that domestic sales grew 28 per cent to 68,881 units from 53,852 units in the year-ago month. Exports, however, declined by 49 per cent last month to 4,255 units compared to 8,303 months in April 2022.
Royal Enfield CEO B Govindarajan said the company has begun FY24 on a confident footing after closing FY23 on a high note.
"To further up the ante and cement our position as a global motorcycling brand from India, we recently launched our Hunter 350 and the Scram 411 in the USA and LatAm markets. I am sure that these motorcycles will continue to perform well and strengthen our foothold in these markets," he added.
Last month, the company announced to setup assembly operations in Nepal and Bangladesh in order to expand its global footprints. The company is present in over 40 countries in the middleweight motorcycle category of 250cc to 750cc. It is banking on its existing products and "a slew of new products lined up" to enhance its share in the markets and segments it is present.
B Govindarajan told news agency PTI: “We feel there's a huge potential for Royal Enfield to gain market share more and more in all the markets where we are present."
The company is in process of setting up assembly plants in Nepal and Bangladesh as it cannot export its fully built motorcycles from India to these countries due to legislations, Govindarajan said, adding these would be done through local partners.
Royal Enfield started its journey in the North American region with its own subsidiary. Govindarajan said that it has gained a market share of almost about 8.1 per cent, adding that in the APAC region it was mostly about 9 per cent and EMEA (Europe, the Middle East and Africa) region it almost touched about 10 per cent.
Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!
