Royal Enfield entered 2025 on a very strong note, managing to sell a record 8,57,378 units in CY2024. Its 2024’s sales, which are up 4 percent year-on-year (CY2023: 8,22,295 units), have surpassed the company's previous best of 8,37,669 units in CY2018.
- More than 5 lakh units of the 350cc models were sold
- Bajaj managed to outsell RE in the 350-500cc category
Royal Enfield’s 350cc models are its bread and butter and account for the majority of its sales. As per SIAM industry wholesales data for April-November 2024, the company sold 5,25,568 units, up 0.05 percent YoY (April-November 2023: 5,25,300 units). In this bike category, Royal Enfield has a vice-like grip – a 94 percent share of the overall 5,57,549 motorcycles sold.
In the 350-500cc category, combined sales of the 452cc Guerilla 450 and Himalayan adventure bike at 27,420 units were up 6 percent YoY (April-November 2023: 25,843 units) giving Royal Enfield a 32 percent market share, below Bajaj Auto. Bajaj Auto (which makes the Pulsar NS400Z, Dominar 400, Husqvarna Svartpilen 401, KTM 390s and Triumph 400s) is the leader in this category with 44,491 units, up 56 percent and a commanding 51 percent market share. Meanwhile, Hero MotoCorp (Harley-Davidson X440 and Mavrick 440) has also done well – up 150 percent YoY – and a market share of 13 percent.
Royal Enfield’s robust sales in the 500-800cc category have helped power overall numbers by 47 percent YoY to 33,152 units. Of this, the 650cc twins (Interceptor 650, Continental GT 650), Super Meteor 650, Bear 650 and the Shotgun 650 have together sold 31,977 units, which marks handsome 46 percent YoY growth and give RE an overwhelming 96 percent market share.
Record Sales in 2024
A deep dive into Royal Enfield’s wholesales data for the past 12 years reveals that CY2024 is the third year in which Royal Enfield has surpassed the 8 lakh units milestone, after breaking into the big number in CY2018 for the first time.
CY2024 wholesales of 8,57,378 units have gone past CY2018's 8,37,669 units by 19,709 units albeit the growth rate has slowed down on a higher base.
The next couple of years saw RE’s annual sales fall 17 percent to 6,90,913 units and to their lowest in the Covid-impacted CY2020 (5,38,889 units). Since then, the company has bounced back on the back of new models and a resurgence in the market for premium, high-powered motorcycles. CY2022 saw demand rise substantially by 28 percent to 7,03,156 units, hit 8,22,295 units in CY2023 and now scaled a new high in CY2024. And it is headed in the same direction in the ongoing fiscal year.
RE set to hit best-ever sales in FY2025
As in CY2024, the strong sales momentum continues for Royal Enfield in the ongoing fiscal year FY2025. In the first nine months of FY2025, the company has dispatched a total of 6,52,856 units, up 3.58 percent on year-ago dispatches (April-December 2023: 6,30,273 units). Festive October 2024 with 1,01,886 units – its best-ever monthly domestic market wholesales – has been the best month in CY2024 as well as in the current fiscal year.
Royal Enfield has, at present, 13 models in the domestic market – five 350s, the Scram 411 (which will soon be replaced by the Scram 440), two 450s and five 650s. RE has averaged monthly sales of 72,539 units in April-December 2024. With three months still to go in FY2025, RE looks well set to surpass its best-ever fiscal sales of 8,34,795 units in FY2024.
With three months still to go for FY2025 to close and Royal Enfield having averaged monthly sales of 72,539 units between April-December 2024, 8,50,000-plus units seem doable for the midsize motorcycle market leader in the current fiscal.
Azaman Chothia
Vishal Venugopal
