Royal Enfield reported that it outperformed sales growth by only 13%, but exports continued to improve, showing 365% growth in June 2021.
Royal Enfield exports will increase 365% in June 2021
Royal Enfield reported total sales of 43,048 motorcycles in June 2021. It surpassed the 38,065 motorcycles sold in June 2020 by 13%. Royal Enfield continues to show strong growth in overseas markets, with total exports of 7,233 units in June 2021. It recorded an astonishing 365% growth of over 1,555 units exported by Royal Enfield in June 2020. However, Royal Enfield’s sales performance in the domestic market continues to be under pressure due to restrictions in many parts of the country.
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Royal Enfield shipped only 35,815 motorcycles to the domestic market in June 2021 while shipping 36,510 motorcycles in the same month of the previous year. However, by comparison, Royal Enfield sales improved significantly in the first quarter of 2021 compared to the same period last year. From April to June 2020, Royal Enfield sold 57,269 motorcycles in the first wave of the COVID-19 pandemic, while Royal Enfield sold 1,23,640 motorcycles during the same period in 2021. We shipped motorcycles and recorded a growth of 116%.
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In the first three months of the current fiscal year (April-June 2021), Royal Enfield sales in the domestic market increased 91% from 54,939 units in the year-ago quarter to 1,04,677 units. .. Backed by silver, Royal Enfield continues to show strong growth in overseas markets as it strives to establish itself as a leader in the global medium-duty motorcycle segment. Overall exports from April to June 2021 accounted for 18,963 units, 714% higher than just 2,330 units exported during the same period a year ago.
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Internationally, the company currently has more than 130 exclusive stores and has more than 760 stores in more than 60 countries. Last year, Royal Enfield entered new markets such as Japan, Cambodia, Costa Rica and the Dominican Republic. The company also launched the first CKD unit (fully knocked down) in Buenos Aires, Argentina later this year. Launched in 2020, the new Royal Enfield Meteor 350 was subsequently launched in Europe, Thailand, Indonesia, Australia, Japan, North America and Europe, highlighting Royal Enfield’s future global ambitions.
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Royal Enfield sales flat in the domestic market
Source link Royal Enfield sales flat in the domestic market