Royal Enfield saw a massive 44 per cent slide in its domestic sales for the month of March 2020. The company sold 32,630 units in March 2020 as compared to 58,434 units sold in March 2019. The company of course saw a dip in its sales because the sales activity stopped after the current Coronavirus lockdown was implemented on March 23, 2020. The company saw a 33 per cent increase in its exports, selling 3,184 units last month as compared to 2,397 units exported in March last year. Combining exports and domestic sales, Royal Enfield sold a total of 35,814 units in March 2020, which is 41 per cent less than 60,831 units sold last year.
(Royal Enfield shut down all its global operations and manufacturing facilities due to the Coronavirus Outbreak)
Commenting on the announcement, Vinod Dasari, CEO at Royal Enfield said, “It has been a challenging year for the industry, from subdued market sentiment in the initial quarters, to the current global pandemic situation. Royal Enfield however continues to remain invested in bringing greater innovation in products and processes. We’ve seen very encouraging response our new motorcycle variants that we launched, our personalisation and customisation initiative – Make Your Own – has seen tremendous positive reaction from consumers, new Ride concepts like the Astral and Rongbuk ride have seen more enthusiastic riders participate, and overall there has been a robust growth in our digital community. We have recently completed sales of our entire BS-IV motorcycle stock ahead of the regulatory deadline, and that is testament to our focused approach, and strategic planning.”
(Royal Enfield managed to sell all of its BS4 stock well ahead of the March 31, 2020 deadline)
“While the industry currently continues to face headwinds, we are confident that in the long-term, there will be slow and steady recovery. Astute planning and agility will be the key to sustained recovery. At Royal Enfield, we will continue to stay focused on bringing evocative motorcycles and several exciting avenues for engagement for our discerning consumers, while also ensuring that we pursue our journey of innovation and transformation,” he added.
Royal Enfield also released its sales data for FY19-20. The company sold a total of 656,651 units domestically in FY20 as compared to 805,273 units sold in FY19, which is a drop of 18 per cent. Similarly, total sales too saw a drop of 16 per cent in FY20 with total sales of 695,947 units. The company sold 826,089 units in total in FY19. The exports though showed a massive 89 per cent growth. The company exported 20,825 units in FY19, which grew to 39,296 units in FY20.
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