Royal Enfield aims to be a global powerhouse in the global mid-capacity motorcycle segment.
With the Bajaj Dominar 400 off to a steady start, Royal Enfield, which is the market leader in the segment, is unperturbed by competition, revealed Mr Siddhartha Lal to Business Standard.
Royal Enfield, thanks to products like the Royal Enfield Bullet and Royal Enfield Classic, has a 95 percent market share in the 350 cc + motorcycles in India. In fact, sales of the Royal Enfield Classic 350 overtook the Bajaj Pulsar brand in January 2017. Their total sales figures in February 2017 stood at 58,439 units.
The new Redditch series of Royal Enfield Classic 350 has also helped build on volumes and brand image. Speaking about the competition, Mr Siddhartha Lal, Managing Director & CEO of Eicher Motors, the parent body of Royal Enfield, said
When one succeeds in a segment, others try to enter and take a bite. Of course, there will be competition but we are not worried.
The Bajaj Dominar 400 in January 2017 recorded sales of 3,000 units and the numbers are expected to grow to 4,000 units in February. They aim to push it up to 10,000 units a month by September with help from export markets.
Royal Enfield also has an upcoming twin cylinder motorcycle which will have an engine displacement of around 750 cc.
[Source: Business Standard]