Royal Enfield expects recovery to begin from May.
Just like Maruti Suzuki, Royal Enfield too is expecting a sharp revival soon after the lockdown in our country. The Indian bike maker’s CEO Vinod Dasari believes that recovery will happen slowly from May onwards.
Royal Enfield CEO further states that the revival will be much sharper than what people are saying. Not only this but he expects a very sharp recovery during the festive season around October in India.
The company is expecting stronger demand as there is already pent up demand which they realised with their digital engagement with the audience showing positive response. There is enthusiasm about new models and other products.
Secondly, Royal Enfield expects people won’t prefer using public transport after this pandemic and demand for cars and two-wheelers will grow, which means well for the motorcycle industry.
The Indian bike maker is now focussing on digitising the selling process. Their large portion of sales comes from urban customers who are young and digital savvy.
Leveraging the digital platform of new product launches and selling process, RE believes the downturn will have a soft impact on Royal Enfield.
The company is readying up a new range of bikes to launch soon. We expect them to introduce the RE Meteor 350 soon after the lockdown. The Meteor was scheduled to launch in April but the COVID-19 situation postponed the launch.
The Meteor 350 is a Thunderbird replacement with new styling and new BS6 engine. RE also has a new entry-level bike in the pipeline to cater a wider audience with a narrow and lightweight body.
Royal Enfield Demand
– RE CEO believes demand will pick up soon
– They expect sharp recovery during festive season
– Looking at digital channels for product launch
Source – ETAuto.com