Finance
Royal Enfield, one of India’s leading mid-size motorcycle manufacturers, intends to expand its export business. The company, which claims a “88-89 percent market share in its category in the country,” plans to export its most iconic product, the “Bullet,” to global markets.
The Bullet has become an icon for the company in India, but it is not currently exported to other markets. However, with the recent introduction of the new J-series engine, Royal Enfield claims that it will soon equip the Bullet with it, opening up the global market.
B Govindarajan, CEO, Royal Enfield said “Our export story is intact. In the coming quarter, there will be some countries where people don’t ride, and in the month of December, there will be some ports that will not be open. We will build our inventory. In fact, our J-platform is Europe-compliant, it opens huge geographies for us.”
“The global markets have been looking at accessible cruiser the Meteor 650 has got a very good response at EICMA 2022. The Bullet will soon have the J-platform engine and will go global. Royal Enfield will see full glory in the international market,” he added.
Furthermore, he stated that the Meteor 350, which was launched in August, has received over 50,000 bookings and is still growing. The Hunter 350 is also assisting the company in attracting younger customers who who want a nimble machine.
Source:FE
