New Delhi: Royal Enfield has been reported to have an 18 percent increase in overall sales in April 2023. Last month, the company sold 73,136 units as compared to 62,155 units in April 2022.

The company said domestic sales rose 28 percent to 68,881 units from 53,852 units in the month a year ago, said a statement. However, exports fell 49 percent to 4,255 units last month compared to 8,303 in April 2022.

Royal Enfield CEO B Govindarajan stated that the company has begun FY24 with confidence after closing FY23 on a high note.

“To further advance and consolidate our position as a global motorcycle brand from India, we recently launched our Hunter 350 and Scram 411 in the US and LatAm markets. I am confident that these bikes will continue to perform well and strengthen our position.” in these markets,” he added.

The company has announced it would set up assembly operations in Nepal and Bangladesh to expand its global footprint, last month. The company is functional in more than 40 countries in the mid-weight motorcycle category from 250 cc to 750 cc. It relies on its existing products and “a lot of new products lined up” to increase its share of the markets and segments in which it operates.

B Govindarajan told news agency PTI, “We feel a huge potential for Royal Enfield to gain more and more market share in all the markets where we operate.”

The company has recently begun to set up assembly plants in Nepal and Bangladesh as it cannot export its fully-built motorcycles from India to those countries due to legislation, Govindarajan said, adding that this will be done through local partners.

Royal Enfield started its journey in the North American region with its own subsidiary company. Govindarajan said it got a market share of nearly 8.1 percent, adding that it was mostly around 9 percent in the APAC region and touched nearly 10 percent in the EMEA (Europe, Middle East and Africa) region.