Riding on the success of its new entry-level Hunter 350 offering and an expanding domestic retail network, Royal Enfield is well on the way to achieving highest-ever sales in its ongoing fiscal year to March 2023, and potentially selling about one million units in the following 12 months.
The brand sold a record 82,235 bikes during October, mainly to Indian customers, and has alerted dealers to prepare for shipments of 100,000 per month from January onwards. Even if the company only manages to ship motorcycles at the current monthly rate of 80,000, it is likely to hit annual sales of 880,000 – 47% more than in the fiscal year to March 2022, and about 7% higher than its previous all-time record of around 822,000 units in the fiscal year to March 2019.
This welter of good news comes after almost three years of weakening sales, when inflated prices and rising fuel costs put Royal Enfield motorcycles out of reach for many Indians. And a lot of the company's turnaround has hinged on introduction of the Hunter, its most affordable proposition to date.
Advance orders for this key model have exceeded 50,000, accounting for a third of total pre-booked commitments. About 18% of domestic-market sales now come from first-time motorcycle buyers, compared to 13% before the Hunter’s launch. Also significantly, two in every five Hunter buyers are in the 18-25 age group.