The bike maker Royal Enfield has registered new record sales figure of 857,378units in the calendar of 2024 . This is an up from 822,295 units recorded in 2023 and goes ahead of the earlier record high of 837,669 unitssold in 2018.
Its leadership of the 350cc segment
Royal Enfield’s 350cc range brands reply 94% of the midsize motorcycle market and therefore this segment is mostly responsible for the growth and success of this company. This downtube remains the company’s hot cake and is still dominating the Royal Enfield Classic 350 market.
Performance of Key Models
Royal Enfield Hunter 350: This model has given a substantial boost to the company sales as it targets a younger population who are in quest for tradition coupled with performance.
Royal Enfield Meteor 350: The aerodynamic cruiser design of the Meteor 350 along with the comfortable riding positions has ensured the bike finds takers who are interested in taking long distances rides.
Royal Enfield Guerrilla 450: Initially planned as an adventure sport model, the Guerrilla 450 has now made Royal Enfield foray into the adventure touring segment with good off-road utility coupled with commuting purpose in the city.
Growth in the Higher Capacity Categories
Among the 500-800cc segment Royal Enfield posted a YoY growth of 47% and sold 33,152 bikes. The models include Interceptor 650, Continental GT 650, Super Meteor 650, Bear 650, Shotgun 650 that provide a market share of 96% in this segment.
Market Competition
Nevertheless, competition in the midsize motorcycs and the company’s failure to break into the international markets means that the growth rate has been midsize motorcycs. Bajaj Auto dominates this segment with 51% Share of 350-500 cc while Hero motocorp has captured 13% share of this segment.
Future Outlook
Royal Enfields steady growth and the rational diversification into different sector have positioned the she company well for future performances. A range of models focusing on different categories of riders and powerful brand established, Royal Enfield will be able to remain an undisputed leader in the segment of the mid-size motorcycles.
