Iconic bike-maker Royal Enfield has ended April- June quarter with its best-ever performance in international markets with total dispatches at 28,390 units, more than 62% increase over 17,493 in the same period last year and a 30% increase over 21,787 in Q4 of FY2022.
Sensing that the global mid-size motorcycle market is underserved and is a huge opportunity, Royal Enfield is building a strong pipeline of new products for the next five years and beyond for global consumers. It has taken a focused approach to international market expansion and evaluating opportunities to set up completely knocked down (CKD) facilities in priority markets in APAC and LatAm regions. Recently, the company set up CKD facilities in Argentina, Colombia and Thailand and crossed the milestone of assembling over 5,000 units in Argentina.
Royal Enfield’s ambition is to lead and grow the global mid-sized motorcycle segment (250-750cc), the company said in an investor presentation.
B Govindarajan, CEO of Royal Enfield and whole-time director, Eicher Motors, said, “Our growth momentum at Royal Enfield continues to remain promising, spearheaded by some fantastic numbers from our international markets. We recently launched the Hunter 350 to some spectacular reception from Indian and global audiences. As we begin retail in India, we are confident that the Hunter 350 will open up a new market for us, thereby bringing in new customers to Royal Enfield.”
Launched to a global audience earlier this month, the Hunter is available in India, and will soon be launched across the Asia Pacific and Europe “With products like the Scram 411 and the Hunter 350, we are building refreshed formats to experience pure motorcycling. With the upcoming festive season, an uptick in market and consumer sentiment, and improvement in supply chain and part availability, we are confident about continued and sustained growth for Royal Enfield in forthcoming quarters,” Govindarajan said.
Royal Enfield also launched three new colourways on the Meteor 350. The Fireball variant got two new additions with the Fireball Blue and the Fireball Matt Green, and a head-turning Supernova Red made a bold debut in the top-end models.
The bike-maker has clocked 4X revenue growth over the last seven years in the non-motorcycle segment, broadly known as the solutions business. It is also exploring new revenue/profit pools from adjacencies such as spares, roadside assistance, annual maintenance contracts and extended warranty.
The company has an expansive premium distribution network of 2,132 outlets comprising 1,076 stores and 1,056 studio stores across 1,750 cities.