20 New Royal Enfield Motorcycles, Including E-Bikes, Under Consideration
The product offensive will ensure that the brand has offerings to take on its rivals.
Royal Enfield has 15-20 new models, including electric motorcycles upcoming in the next three to five years to take on its competition.
The maker of the iconic Bullet motorcycle has commenced the product onslaught under the “RE 2.0 mid-term plan” with the launch of the Meteor 350 today.
Replacements for the Bullet and Classic (based on the new J platform) are set to hit the roads within a year and then there are the new “Q” and “K” architectures that are being developed, while R&D work on EVs continues.
While the upcoming Royal Enfield motorcycles will compete in the middleweight segment (350-750cc), they will be iterations of the adventure, cafe racer, street and classic motorcycles from the brand’s lineup.
Significant expansion of the firm’s range will give it the edge against rivals like Honda, Bajaj-Triumph, TVS-Norton and Hero-Harley-Davidson.
As premiumisation in the two-wheeler segment continues, the segment leader also looks to reduce its dependence on the Classic 350 which contributes to 60 percent of the brand’s total sales now.
Further, the company is focusing on improving its average realization, that stood at Rs. 1.30 lakh per vehicle at the end of FY20. One thing that could help improve average realization as well as operating margins is the “Make it Yours” initiative.
With the launch of the Meteor 350, the firm is confident of selling 10,000 units of the cruiser every month. The highest backlog the company has is with its more expensive motorcycles, the Himalayan and 650 twins.
Source – ETAuto.com