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Updated 21:56 IST, August 1st 2024

Royal Enfield reports 8% YoY drop in retail sales, recorded 67,265 units in July

Royal Enfield has registered a decline of 8 per cent in its retail sales in July 2024, on a year-on-year basis, registering retail sales of 67,625 units.

Reported by: Business Desk
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Royal Enfield Guerrilla 450
Royal Enfield Guerrilla 450 | Image: Royal Enfield

Royal Enfield sales drop: Royal Enfield has announced an 8 percent decline in total sales for July 2024, with retail sales of 67,265 units as compared to 73,117 units during the same month last year.

The company’s domestic sales experienced a 7 per cent drop, falling to 61,208 units from 66,062 units in July 2023. This has recorded a dip of 4,854 units in this period.  This drop has reflected a broader trend in the motorcycle market, where Royal Enfield has seen lowered consumer demand in its home market.

In addition, Royal Enfield's export sales also declined significantly, with a 14 per cent decrease to 6,057 units from 7,055 units in July 2023. This has recorded a dip of 998 units in this period. This dip in international sales has highlighted ongoing challenges in global markets for the motorcycle manufacturer.

The company did not provide specific reasons for the decline in sales but noted that it is closely monitoring market conditions. As Royal Enfield works to address these challenges, it aims to adjust its strategies to better align with shifting consumer preferences and economic factors affecting both domestic and international markets.

Overall, the drop in sales marks a setback for Royal Enfield, which has been a significant player in the motorcycle industry. The company will likely be focusing on strategies to regain momentum and boost its market performance in the coming months.

Royal Enfield has recently launched the Guerrilla 450 in the Indian market, which is the naked version of the Himalayan 450. Royal Enfield has revealed the date of the launch of the new Classic 350 as well which will comprise their J-series engine and will have some design element changes. The Guerrilla 450 mainly competes with the Triumph Speed 400, Harley Davidson X440, and the Bajaj Pulsar NS 400Z in its segment. 

(with PTI inputs)

Published 21:56 IST, August 1st 2024