Royal Enfield Zooms in India: Sells Over 75,500 Bikes in March

1 Apr 2024 , 10:42 PM

According to a statement released by the carmaker on April 1, sales of Royal Enfield motorcycles by Eicher Motors increased 5% in March 2024 to 75,551 units, from 72,235 units in the same month the previous year.

Sales of the company’s foreign Royal Enfield division, however, decreased by 23% in March 2023 to 9,507 units from 12,351 units.

The company sold 9.12 lakh motorcycles during the entire 2023–34 fiscal year, which is 9% more than the 8.34 lakh units it sold in the 2022–2023 fiscal year. In contrast, Royal Enfield’s global sales dropped 22% year over year to 77,937 in the most recent fiscal year.

At 2:30 pm on the BSE, Eicher Motor shares were down 1.61% at ₹3,954.85 after the monthly business update.

In the meantime, Eicher Motors is in talks to build a warehouse, maybe in Germany or France, to expedite the supply of non-motorcycle products like spare parts and branded merchandise. The company opened a branch in the Netherlands last month to lessen its reliance on the UK.

According to Arun Gopal, the international head of Royal Enfield, “moving materials to and from the UK to Europe has become challenging due to Brexit,” Bloomberg reported on March 25. Additionally, several regions of Europe are not geographically close to the UK, therefore we needed a warehouse that could better service that area.

The company, which was established in the UK at the beginning of the 20th century, imports motorbikes and other parts into Europe from India and distributes them through regional distributors. Its motorcycles were utilised in both World Wars.

According to Gopal, the company is expanding swiftly in the EU, and the new warehouse will reduce lead times from the current 90 days to two weeks.

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