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New models and global expansion

Royal Enfield, which is a brand under Eicher Motors Limited (EML), has announced strong sales growth in FY23-24. The brand registered a 9% growth in motorcycle sales to a total of 9,12,732 units.

Royal Enfield’s performance in the first quarter (Q1) of FY23-24 was noteworthy. The company recorded sales of 2,27,925 motorcycles, reflecting a healthy growth of 6.17 percent compared to the 2,14,685 motorcycles sold during the same period in FY 2022-23. This strong start to the fiscal year set the tone for Royal Enfield’s overall success.

Another factor in the increase in sales was the launch of three new motorcycles. The return of the legendary Royal Enfield Bullet 350. This was a modern take on the brand’s oldest model and resonated with a nostalgic audience. Royal Enfield also introduced Himalayan 450built on the all-new platform and a new Sherpa engine, aimed at adventure enthusiasts looking for a more powerful off-road experience.

They are also planning another bike on this engine and platform, which will likely be called the Guerrilla 450. Royal Enfield 650 Rifle, inspired by its custom motorcycle heritage, further expanded its 650cc twin platform. It also unveiled a Himalayan electric concept motorcycle, which is expected to arrive by 2025. Read more.

Royal Enfield has enhanced its international presence by setting up its fifth CKD (Completely Knocked Down) assembly facility outside India in Nepal. This simplified production and distribution in the region. Additionally, Royal Enfield entered the Turkish market along with it K-Rides Motosiklet ve Bisiklet San. ve Tic. AS. as a distributor.

Overall, Royal Enfield’s strong FY23-24 performance, driven by new launches, global expansion and focus on innovation, contributed significantly to Eicher Motors’ record financial results. The company issued its highest ever dividend of ₹51 per share this year.