Royal Enfield has just released its latest set of record breaking results.
CEO Siddhartha Lal has overseen a monumental transformation of the brand since taking over in the early 2000s when Royal Enfield was selling around 25,000 bikes per year. For the financial year ending April 2015, over 500,000 motorcycles were sold and demand for the new Royal Enfield bikes continues to increase.
In order to meet demand, Royal Enfield aims to manufacturer 675,000 motorcycles in the financial year ending April 2017.
Royal Enfield recorded its highest ever increase in sales, showing a 42% year on year growth. Outstanding.
In addition, Royal Enfield plans for UK expansion continue to progress as the new R&D facility in Leicestershire is on course to be fully operational by early 2017.
Commenting on Royal Enfield’s performance, Mr. Siddhartha Lal, Managing Director & CEO Eicher Motors Ltd said said, “Royal Enfield has maintained its strong volume growth in the first quarter of FY 2016-17 and we continue to take more orders than our monthly supply. The response to Himalayan- Royal Enfield’s first adventure-tourer, has been extremely encouraging and it is now available for booking across the country. We continue to expand our footprint in India with 566 dealerships now open across the country. Our immediate business outlook remains strong and Royal Enfield continues to grow consistently, competitively and profitably towards leading and expanding the mid-sized motorcycle segment globally.”
In June 2016, Royal Enfield opened its store in Manila, Philippines. Phlippines is among the largest two-wheeler markets in the world. With a large chunk of the population using commuter motorcycles, there is an enormous potential for customers to upgrade to mid-sized motorcycles, perfect hunting ground for Royal Enfield.
In Europe, Royal Enfield participated in Wheels & Waves, one of the most popular motorcycle customisation and surfing festival organised in Biarritz, France.
In India, Royal Enfield successfully conducted the 13th edition of the Himalayan Odyssey where it introduced the first ever women only edition of the epic ride. Riders from nine different nationalities, including 20 women riders participated in this year’s ride. In June 2016, Royal Enfield announced its tie-up with Flipkart, India’s largest e-commerce marketplace to sell Royal Enfield Gear and accessories. This partnership allows Royal Enfield to sell its apparel and accessories outside its network, to a much wider audience.
What next for Royal Enfield? How do you top 42% growth? Have a look at the great new range of bikes and you tell us. http://royalenfield.com/uk/