Eicher Motors reports 100,000+ sales for Royal Enfield in October, setting new milestone

Royal Enfield, a division of Eicher Motors Limited, has hit an all-time high in sales, crossing the 100,000 mark for the first time in its history. The iconic motorcycle brand reported sales of 1,10,574 units in October 2024, an impressive 31% increase compared to the same period last year. The company’s domestic and international markets have experienced notable growth, making it a remarkable festive season for Royal Enfield.

October Sales Surge Amid Festive Season

Royal Enfield’s October sales surge has positioned it to break multiple records in the motorcycling industry. Domestic sales reached 1,01,886 units, up 26% from 80,958 in October 2023, while exports also saw a significant rise, hitting 8,688 units, compared to just 3,477 in the previous year. B Govindarajan, CEO of Royal Enfield, remarked that October 2024 was a record-breaking month, marking the highest festive season sales in the brand’s history. He mentioned that the company’s focus on sustainable growth, alongside new launches and expansion into new markets like Bangladesh, has been instrumental in achieving these numbers.

Expansion into Bangladesh and New Models

In an effort to strengthen its presence in the South Asian region, Royal Enfield officially launched a manufacturing unit and a flagship showroom in Bangladesh. The facility, set up in collaboration with IFAD Motors in the Cumilla District, has an annual capacity of 30,000 units. This expansion is geared toward the production and assembly of models like the Hunter 350, Meteor 350, Classic 350, and Bullet 350, tailored specifically for the local market.

Adding to its product line, Royal Enfield also unveiled its latest model, the Bear 650, at a launch event. This scrambler shares its platform with the well-known Interceptor 650, yet features enhanced suspension and wheels aimed at more adventurous, off-road use. The Bear 650 has been designed to evoke a classic 1960s scrambler feel, offering a minimalist yet rugged experience for desert and trail riding. Full pricing details are set to be announced on November 5, 2024, during the EICMA event.

Expert Insights on Royal Enfield’s Growth

Industry experts believe that Royal Enfield’s consistent focus on capturing new markets and delivering diverse models has played a vital role in its current growth. The partnership with IFAD Motors in Bangladesh is being seen as a strategic move to tap into a market with rising demand for mid-sized motorcycles. Experts also pointed out that the introduction of niche models like the Bear 650 helps the company diversify its offerings, ensuring broader customer reach.

Additionally, the company has returned its popular limited edition 1:3 scale models, inspired by the Classic series, in a flash sale held on October 15, 2024. These collectible models were sold out rapidly, underscoring Royal Enfield’s strong brand loyalty and the community of passionate enthusiasts it has cultivated over the years.

Royal Enfield’s Historic Milestone

Royal Enfield’s growth trajectory over recent years has been marked by strategic product releases and a consistent focus on fostering the mid-sized motorcycle segment. The sales milestone of 1,10,574 units in October reflects both increased production capacity and a growing international footprint. With plans for sustainable mobility in the pipeline, Royal Enfield remains committed to evolving its brand while staying true to its heritage of ‘Pure Motorcycling’.

With production facilities in India and assembly units in six countries, Royal Enfield has firmly established itself as a global leader in the mid-size motorcycle segment. The company’s focus on quality craftsmanship and creating bikes that cater to the adventurous spirit of motorcyclists has solidified its reputation as the oldest continuous motorcycle brand in the world.