Royal Enfield Sales Statistics
Royal Enfield’s global sales are down 30% in the first 8 months of 2020. Some markets have seen significant sales growth, particularly in Southeast Asia, Latin America and Europe. However, the collapse of the Indian industry due to the coronavirus crisis significantly affected the overall sales of the brand’s products.
Royal Enfield sales in recent years
2019 showed a halt in sales growth, and the crisis of 2020 that followed significantly hit Indian motorcycle manufacturers, primarily focused on the domestic market. Royal Enfield is no exception, and the basis of its success is local sales, and access to foreign markets is more a matter of prestige. However, despite this, international sales have shown steady growth in recent years, but in general, expectations for 2020 are not encouraging, given the significant market failure in India.
In the first 8 months of this year, global sales were 330,000 units, a 30.6% drop from the same period last year. The first half of the year showed an even more unpleasant figure – a decrease in sales was 40.7% against the background of the first half of 2019.
Domestic sales of the company’s products account for 99% of the total volume, and the drop here was 32.2%. Sales in all regions of the company’s presence outside of India are growing.
Europe is the second largest market for Royal Enfield, with sales up 3.9% in 8 months. The countries of Southeast Asia showed an increase of 14.1%, Latin America – 22.1%, and North America – 21.5%. In all of these regions, RE sales growth is impressive and marks a dramatic increase in market share.
According to forecasts of analysts of the company for 2020, the total level of sales will be 571,000 units of equipment, which is 20.2% lower than last year.