Bike Sales During COVID-19: Royal Enfield To Capitalise On Demand
Royal Enfield has stated that it expects people to buy 2-wheelers during fears over COVID-19 infection.
Royal Enfield has stated that it is expecting bike sales during COVID-19 to increase as people will be avoiding public transport due to fears over contracting COVID-19.
Eicher Motors (Royal Enfield’s parent company) MD Siddhartha Lal has stated that it is poised to capitalise on the opportunity created by the pandemic and as the situation stabilises due to relaxations.
The bike maker is also aiming to provide a host of digital and financial solutions to build accessibility and boost bike sales during COVID-19 era.
In terms of growth last year, Royal Enfield has witnessed an overall growth of 96 percent in international markets. Europe has registered a 100 percent growth over the previous year.
This has been possible due to the success of the 650 twins and the Himalayan and also due to Royal Enfield dealer touch points in international markets growing over 660 stores.
Royal Enfield’s overall footprint grew by 50 per cent in the Asia-Pacific region and it now features among top five brands.
The firm says it will continue with its push towards establishing itself as a true global brand despite bike sales during COVID-19 having seen a drop.
The Indian bike maker will solely focus on midsize range of bikes. Bikes with 250cc-750cc is where they will concentrate on. This strategy will be applied for both domestic and international markets.
Earlier this year, the firm had announced that it will be launching new products every three months.
This strategy will be present for the next three to four years, beginning with the Meteor 350.