IAB Report – Royal Enfield forays into Colombia with a local distributor
Posted on: Jul 18, 2014 - 8:40am IST
Royal Enfield is expanding its international presence in a bid to become a global leader in the medium displacement (250 – 750 cc) motorcycle segment. The Chennai-based motorcycle maker has announced its foray into Colombia and has appointed Corbeta Group as the exclusive distributor for the country.
The commercial launch is set to take place later this year and the brand would introduce its Bullet, Classic and Rumbler range of motorcycles in 350 to 500 cc displacements and the flagship Continental GT 535 cc cafe racer. Corbeta Group will be responsible for supplying, marketing, reselling, distribution and servicing of Royal Enfield products in the Colombian market. The group will open exclusive RE stores across the country in the coming months.
Speaking on the partnership, Mr. Enrique Vargas, General Manager, Corbeta Group said, “Going forward, we will also be looking at assembling Royal Enfield bikes in Colombia.”
Royal Enfield has achieved its best ever monthly sales performance in June at 25,303 units (domestic and exports) which is a growth of 83% compared to the same month last year. The export volume grew at an impressive 60%. The addition of new international markets would help the company garner more volume.
In related news, Hero Motocorp recently laid the foundation stone for a manufacturing plant in Colombia.
More details are available in the press release below.
Royal Enfield Forays Into Colombia – Press Release
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