Like the other two-wheeler manufacturers, Royal Enfield has been affected by the unprecedented COVID-19 pandemic. However, the CEO of the Chennai-based company expects the two-wheeler demand in the country to rise by Q4 of 2020.
To contain the spread of the deadly Coronavirus in the nation, the Indian Govt has put the entire country in lockdown. The lockdown was enforced on 25 March 2020 and was supposed to be lifted on 14th April 2020. However, considering the seriousness of the matter, Prime Minister Narendra Modi extended the nationwide lockdown until at least 3 May 2020.
In compliance with the Indian Govt’s orders, two-wheeler companies have temporarily shut down their manufacturing facilities. Dealerships are also closed. The demand for two-wheelers in the country has deteriorated. However, things are expected to pick up the pace when the health situation normalises.
Royal Enfield CEO, Vinod Dasari, has said that the company has been interacting with its customers digitally. It has been noticed that people are mostly talking about their past motorcycle road trips. The enthusiasts are excited about not just their future road trips but also new Royal Enfield bikes. This enthusiasm will certainly help the two-wheeler market recover once the lockdown is lifted.
He also said that post the lockdown, things will take some time to return to normal. However, perhaps, people wouldn’t want to use public transport to be on the safer side. As a solution, they would buy two-wheelers for their mode of conveyance. Consequently, the demand for two-wheelers will rise and recover greatly by the festive season in Q4 of this year.
[Source: ET Auto]