Royal Enfield records a 41% degrowth in March 2020 alone and 16% YTD decline
Royal Enfield sells 35814 motorcycles in March 2020, amidst the general market slowdown due to COVID-19 Coronavirus outbreak. The manufacturer had managed to sell 60,831 units in March 2019. This marks a massive 41% decline in sales.
FY 2019-20 hasn’t been so pleasant for RE. The YTD domestic sales dropped by 18%, though the exports witnessed a MASSIVE hike, shooting up to a stupendous 89% growth (Even with the COCID-19 shattering the industry, the exports had seen a 33% boom in March) With both taken into consideration, the manufacturer closes the fiscal year with 16% degrowth.
Royal Enfield had recently hit the news by ranking among the first few to sell off their BS4 inventory before the government declared deadline. The exclusive personalization and customization initiative- Make Your Own, from Royal Enfield has also been amassing much applause from the customers. All these mean hopes to the manufacturer for a slow, yet steady recovery.
Image Source: Royal Enfield Website