Royal Enfield is in research mode of customers’ expectations on electric two-wheeler models having core attributes of the high-end motorcycle brand, as per official said.
Eicher Motors, which makes Royal Enfield motorcycles, has witness input cost pressure stabilise to some extent and is expecting an uptrend in demand in the upcoming festive season, official said.
The Eicher Motors also sees strong growth in the semi-urban markets with a greater distribution network.
Royal Enfield India Business Head V Jayapradeep said :
V Jayapradeep also said the company is not in a hurry on electric models.
V Jayapradeep is to launch the motorcycle’s new model ‘Hunter 350’.
Despite a robust performance in the April-June quarter of the current fiscal, the Royal Enfield has not reach the pre-COVID volume level in line with the industry trend.
Royal Enfield sold 1,86,032 motorcycles in the first quarter of the 2022-23 financial year, an increase of 52% as against 1,22,170 units sold in the year-ago period.
The Royal Enfield said it has not decide on a price hike but is keeping a close watch on the market.
Speaking on marketing, V Jayapradeep said the growth in rural India and semi-urban markets was higher at 60%.
V Jayapradeep Said :
Royal Enfield not looking to add outlets during the current fiscal and will rather focus on consolidating its presence to grow sales, V Jayapradeep said.