Royal Enfield sells record 857,378 bikes in CY2024, beats previous best of CY2018

Royal Enfield has entered CY2025 on a very strong note. The Chennai-based midsize motorcycle market leader has sold a record 857,378 units in CY2024 which is its best-ever domestic market wholesales in a calendar year. Its CY2024’s sales, which are up 4% year-on-year (CY2023: 822,295 units), have surpassed company’s previous best of 837,669 units in CY2018.

Royal Enfield’s midsize motorcycle market power comes from the sales of its 350cc models. As per SIAM industry wholesales data for April-November 2024, the company sold 525,568 units, up 0.05% YoY (April-November 2023: 525,300 units). In this bike category, Royal Enfield has a vice-like grip – a 94% share of the overall 557,549 motorcycles sold.

Festive October 2024 with 101,886 units was the best-ever monthly domestic market wholesales yet for Royal Enfield. 

In the 350-500cc category, combined sales of the 452cc Guerilla 450 and Himalayan adventure bike at 27,420 units were up 6% YoY (April-November 2023: 25,843 units) give Royal Enfield a 32% market share, below Bajaj Auto. Bajaj Auto (Pulsar NS400Z, 373cc Dominar, Husqvarna Svartpilen 401, KTM RC390, Triumph Speed T4, Speed 400 and Scrambler 400 X) is the leader in this category with 44,491 units, up 56% and a commanding 51% market share. Meanwhile, Hero MotoCorp (Harley-Davidson X440 and Mavrick 440) has also done well – up 150% YoY – and a market share of 13 percent.

Royal Enfield’s robust sales in the 500-800cc category have helped power overall numbers by 47% YoY to 33,152 units. Of this, the 650cc twins (Interceptor 650, Continental GT 650), Super Meteor 650, Bear 650 and the Shotgun 650 have together sold 31,977 units, which marks handsome 46% YoY growth and give RE an overwhelming 96% market share.

RECORD SALES IN CY2024
A deep dive into Royal Enfield’s wholesales data for the past 12 years reveals that CY2024 is the third year in which Royal Enfield has surpassed the 800,000 milestone, after breaking into the big number in CY2018 for the first time (see 10-calendar-year sales data below).

CY2024 wholesales of 857,378 units have gone past CY2018's 837,669 units by 19,709 units albeit the growth rate has slowed down on a higher base.

The next couple of years saw RE’s annual sales fall 17% to 690,913 units and to their lowest in the Covid-impacted CY2020 (538,889 units). Since then, the company has bounced back on the back of new models and a resurgence in the market for premium, high-powered motorcycles. CY2022 saw demand rise substantially by 28% to 703,156 units, hit 822,295 units in CY2023 and now scaled a new high in CY2024. And it is headed in the same direction in the ongoing fiscal year.The Hunter 350 (left) and the Meteor 350 are witnessing strong demand and are among the bikes contributing to RE's 94% share of the 250-350cc segment. 

WELL SET TO HIT BEST-EVER FISCAL YEAR SALES IN FY2025
As in CY2024, the strong sales momentum continues for Royal Enfield in the ongoing fiscal year FY2025. In the first nine months of FY2025, the company has dispatched a total of 652,856 units, up 3.58% on year-ago dispatches (April-December 2023: 630,273 units). Festive October 2024 with 101,886 units – its best-ever monthly domestic market wholesales – has been the best month in CY2024 as well as in the current fiscal year.

Royal Enfield has, at present, 13 models in the domestic market – Bullet 350, Classic 350, Hunter 350, Meteor 350, Goan Classic 350, the 411cc-engine powered Scram 411, the 452cc Himalayan and Guerilla 450, the 650cc twins (Interceptor 650, Continental GT 650), Bear 650, Super Meteor 650 and the Shotgun 650. 

Royal Enfield has averaged monthly sales of 72,539 units in April-December 2024. With three months still to go in FY2025, RE looks well set to surpass its best-ever fiscal sales of 834,795 units in FY2024.

With three months still to go for FY2025 to close and Royal Enfield having averaged monthly sales of 72,539 units between April-December 2024, 850,000-plus units seem doable for the midsize motorcycle market leader in the current fiscal. 

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