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In March 2020, Royal Enfield reported disappointing sales to the result. Due to the bad sentiment on the Indian market. And the COVID-19 pandemic that took control of the country. In March 2020, Royal Enfield managed to sell 32,630 units while in 2019, it sold 58,434 units over the same time.
These statistics just reflect the success of the sector for the domestic market. On a positive note, however, its export business saw a spike in March 2020. With the company selling 3,184 units, while in 2019 it only managed to sell 2,397 units. That’s a production boost of 33 percent.
This being said, India’s weak sales this past month had an impact on overall results as revenue fell by 41 percent. Compared with March 2019 where Royal Enfield sold 60,831 units, the company sold just 35,814 units this year.
The sluggish sales have affected the year-to-date estimates revealing. That revenues were 16 percent lower in 2019-2020 than they were in 2018-2019.
The financial success of Royal Enfield is an example of the industry’s downturn and with the coronavirus chaos, it will be a while before things start to look better.
However, the one thing Royal Enfield won’t have to worry about is the BS4 to BS6 transfer headache. Because it managed to clear all of its BS4 stock long before the initial deadline of March 31, 2020.
The company is still planning to unleash a slew of new bikes in the months ahead. Recently the latest Royal Enfield Meteor 350 has spotted offering us a hint of what to do in the future.
Royal Enfield launched the first BS6-compliant motorcycle earlier this year, the Classic 350 and all of its other models (barring the 500cc bikes) have been modified to meet the BS6 specifications since. In comparison, the new specifications have seen the company pull the plug on one of the most popular models-the the 500cc UCE (Unit Construction Engine)-like the Bullet 500, Classic 500, Thunderbird 500 and their variations.