Business zooms for Royal Enfield
A top official claimed that in the last one month, the company is back to normal and is seeing demand happening much faster than its supply chain
Hyderabad: The mid-size motorcycle maker, Royal Enfield, has touched pre-Covid-levels in terms of enquiries, bookings and in some segments even in sales. A top official claimed that in the last one month, the company is back to normal and is seeing demand happening much faster than its supply chain, with more traction from tier-2 and 3 cities compared with metro cities.
“On an aggregate demand level, I would say we have hit our pre-Covid numbers last month itself and this includes enquiries and bookings and even sales in certain parts of the country. On the supply chain there were some discrepancies in last few months, however, we are producing an additional 10,000 bikes each month to meet the faster pace of demand,” said Lalit Malik, chief commercial officer, Royal Enfield. A unit of Eicher Motors, Royal Enfield reported 7 per cent decline in total sales at 66,891 units in October.
The company announced the launch of its all-new Easy Cruiser, the Royal Enfield Meteor 350 on Friday priced at Rs 1,75,817 for the Fireball, Rs 1,81,326 for the Stellar and Rs.1,90,536 for the Supernova edition. The vehicle will be available for test rides starting on Friday and deliveries for Royal Enfield Meteor 350 will begin on November 7.
Digital platform
The company started focusing on its digital platform in the post Covid world and is seeing 50-55 per cent of its enquiries and bookings happening from its online platform. “Before Covid-19 about 20 per cent of enquires used to happen digitally,” Malik said.
International market
Even though the company reported a 9 per cent decline in exports in the month of October as compared to same month year-ago period, the company is betting big on the international market. While similar to India markets like Latin America, Vietnam, Indonesia, Thailand and Brazil are on the company’s radar, it is also focusing on markets like the UK, the US and Australia.
“About four years ago in UK our market share was 4-5 per cent but now it is 15 per cent. Similarly, Germany was less than 2 per cent but now it is at 19 per cent. In Brazil we plan to have 15 stores by end of this year,” he said.
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