India’s retro-motorcycle manufacturer Royal Enfield shipped out a total of 72,235 bikes in March 2023. Out of the 72,235 units sold last month, Royal Enfield shipped out 59,884 bikes to the domestic market while 12,351 units made their way to foreign shores.
March 2023 contributed a record financial year for Royal Enfield. The Chennai-based motorcycle manufacturer sold a record 834,895 units in the financial year 2022/23, the firm’s best performance on the sales charts to date.
Royal Enfield’s sales figures in March were in the black compared to the same period in 2022. Domestic sales rose by 2.41 per cent (1,407 units) to 59,884 units compared to the 58,477 units sold domestically in March 2022.
Exports rose by 34.25 per cent (3,151 units) to 12,351 compared to the 9,200 bikes exported in March 2022. Overall sales rose by 6.73 per cent (4,558 units) to 72,235 motorcycles in March 2023 compared to the 67,677 bikes sold in the third month of 2022.
M-o-M numbers were a mixed bag for Royal Enfield. The retro-motorcycle manufacturer’s domestic sales dipped by 7.06 per cent compared to the 64,436 bikes sold in February 2023.
Royal Enfield’s exports grew by 73.76 per cent (5,243 units) compared to the 7,108 units the Chennai firm shipped out to distant shores in February 2023. The growth in exports ensured that overall M-o-M metrics rose ever so slightly by 0.97 per cent (691 units) compared to the 71,544 units sold in February.
The financial year 2022/23 turned out to be a rather brilliant one for Royal Enfield with the Chennai firm recording its best-ever sales numbers. Royal Enfield sold a record 834,895 units in 2022/23, which was a 38.63 per cent growth over 2021-22 when it sold 602,268 bikes.
Both domestic sales and exports were in the black with the bikemaker selling 734,840 motorcycles in India over the last financial year. Domestic sales grew by 40.98 per cent (213,604 units) compared to the 521,236 units sold in FY22.
Exports increased by 19,023 units (23.48 per cent) to 100,035 units in FY23 compared to the 81,032 bikes that found foreign owners in FY22.
Thoughts About Royal Enfield’s Record Year
Royal Enfield is among many Indian manufacturers bouncing back after the problematic pandemic and chip shortage with a big bang. With more models on the horizon, FY23 numbers seem to be another record-breaking stepping stone in Royal Enfield’s journey.
Keyword: Royal Enfield Hits New Sales Record In FY 22/23 As Thumper Starts To Cruise