The Royal Enfield Bullet, often described as the oldest continuously produced motorcycle in the world, is a cult product for enthusiasts who love it for its vintage feel as much as for the thrum of its engine.
Muscular and pliant, the Bullet—an Indian-made avatar of an old British brand—has found renewed popularity over the last few years, as leisure motorcycling in India has blossomed. Its manufacturer, Royal Enfield Motors, sold almost 1,75,000 motorcycles—Bullets as well as three other brands—in 2013.
Royal Enfield’s newest model, a midsize “cafe racer” called the Continental GT, was introduced at an elaborate event in London in September. “It’s the first bike that we’ve developed keeping the world market in mind,” said Siddhartha Lal, who is credited with turning Royal Enfield around.
Lal, age 40, is the chief executive of Eicher Motors, a manufacturer of buses, trucks and tractors that owns Royal Enfield. Uncommonly for an Indian executive, he sports sideburns and wears jeans and a bomber jacket to meetings. He was riding a Bullet when he was in university, well before Eicher, under his father’s management, bought Royal Enfield in 1993.
The sale price was “just pennies”, Lal said. Eicher reported revenue of more than $1 billion in 2012.
The Bullet was first produced by a British firm named Royal Enfield, but after that company shut down in 1971, its Indian manufacturing unit—in the city of Madras (now Chennai)—bought the rights to the name and continued to produce the Bullet.
But through the 1970s and 1980s, Lal said, Royal Enfield’s management made a series of bad decisions and buried the company in debt. “The motorcycle was still resilient, though. It was probably selling 1,500 or 2,000 pieces a month,” he said. “Eicher bought Royal Enfield because at its core was the Bullet. That was the appeal.”
Lal set himself to turn Royal Enfield around in 2000, when he was 27, and the company first sputtered and then roared back to life. Dan Holmes, who fell so in love with a Bullet he saw at a trade show that he opened a Royal Enfield dealership in Goshen, Indiana, recalled how the quality of