Royal Enfield has once again reached excellent growth records for the month of October 2022, both on the international market and in its native market of India. Ever since it entered the worldwide market in 2017 with the launching of the Interceptor and Continental GT 650, Royal Enfield has become one of the fastest growing manufacturers in the motorcycle industry.
According to the most current sales information published by Royal Enfield's parent company, Eicher Motors, the firm had incredibly strong sales for the month of October 2022. With only 7% of total sales coming from the worldwide market, the Indian market continues to account for the majority of the company's revenues. If we dig a bit further, it's not unexpected that Enfield sells their 350 bikes the great majority of the time.
The Meteor 350, Classic 350, and Hunter 350, three models in the freshly updated 350 family, have achieved enormous success both internationally and in India, where Enfield is based. In contrast to October 2021's sales data of 37,409 units, the whole 350 sector had a staggering 100% rise in October 2022, reporting a total of 74,828 units sold.
We're actually just looking at four bikes here when it comes to the more expensive variants, which are classified as bikes with displacement greater than 350cc: the Himalayan, Scram 411, Continental GT 650, and Interceptor 650. Although Eicher's sales report skips over the individual models, the premium segment had a modest 10% increase in sales from 6,724 in October 2021 to 7,407 in October 2022. Overall, Royal Enfield reports a remarkable 86 percent increase in sales for the month of October compared to the same time last year.
Despite Enfield's recent quick expansion, the business doesn't appear to be slowing down. Recent releases for the brand have largely all been quite profitable. Having said that, we are already aware of the several releases RE has planned, including a few audacious models like the Super Meteor and Scrambler 650 that are expected to cause a stir in the neo-retro market.