Royal Enfield motorcycles saw a massive surge, selling 5168 units in FY19 as compared to the 305 units in FY18.
The 2-wheeler segment overall is suffering from slow sales and growth in the market. However, contradicting the overall 2-wheeler market, premium bike sales in the 500cc-800cc segment have seen a massive surge in demand. The sales for premium motorcycles were more than double in FY19 as compared to the period in FY18.
Overall, sales of 8264 units were recorded in FY19 which is a huge rise from 3585 units in the previous fiscal. The overall growth is recorded at 130 per cent. The rise in sales was mainly contributed to by Royal Enfield. The company reportedly sold 5268 units out of the total sales n FY19 as compared to 305 units in FY18.
With the introduction of new motorcycles in the premium segment, the demand has seen a massive hike. New models launched by the manufacturers have got all the attention of customers towards the premium segment. Moreover, in cities and urban communities, manufacturers are promoting motorcycle riding as a hobby with the introduction of motorcycle clubs and rides. This has also led to a better customer-manufacturer relation.
Moving ahead, the sales of the premium category bikes had spiked even more as Royal Enfield introduced two new models in their lineup. The Interceptor 650 and the Continental GT 650 was launched in November last year. The motorcycles recorded a sales of 1700 units in March 2019 alone and have a very long waiting period associated. With a starting price tag of Rs. 2.5 lakhs, the affordability has seriously boosted the sales for the manufacturer.
Royal Enfield also saw a rise in their exports with 4442 units in the premium segment which contributed to 45 per cent of the overall exports. The company also made its way into the European market. Harley-Davidson, the highest seller in this segment is now in second place with 1513 units sold in the last year as compared to 2043 units sold in its FY18. The company exports, however, have maintained the first position with 5395 units. Suzuki has also entered this segment in India with the company managing to sell 205 units in FY19.
500-800cc Bike Sales
– The premium motorcycles segment saw a 130 per cent growth in FY19
– Royal Enfield took the top position selling 5628 units in FY19
– Harley-Davidson moved to second place in sales but remained the first for imports