Royal Enfield Plans To Ramp Up Capacity To 52,000 A Month By December
Royal Enfield, which also has the record of being the oldest bike company in the world which has been continuously rolling out bikes since inception in 1901, had sold over 3,00,000 units in 2014.
It had set a target of selling 4,50,000 units this year. But going by the pace of sales growth, the company can easily achieve this.
Out of this, exports contributed to only 3 percent of total sales, Singh said.
The 114-year-old Royal Enfield sells various models, including the iconic Bullet Standard, the Bullet Classic, the Thunderbird and the high-end performance bike Continental GT.
The parent company Eicher Motors has an overall capex plan of around Rs 500 crore for Royal Enfield for this year.
According to company managing director and chief executive Siddharth Lal, this planned investment will be used towards product development, capex among others.
A part of this will also go into setting up of two technology centres -- one in Chennai and other in Leicestershire, Britain, and will be operational by the end of 2015, according to Lal.
Currently limited to making bikes with engine capacities ranging from 346cc to 535cc, Royal Enfield is planning to enter more categories, both in the low and high ends in the 250cc to 750cc segments, according to media reports.
The first all-new product is reported to be an adventure tourer called the Himalayan, for which it has already got the trademark.
This May, the company had acquired a British design and engineering firm Harris Performance for an undisclosed amount.
Harris has had a long standing relationship with Royal Enfield and was responsible for the chassis development of its Continental GT cafe racer model.
Over the weekend, the company launched 600 limited edition units of its flagship Bullet Classic model to celebrate the enduring success of the bike, which still contributes close 50 percent of its total sales.
The limited edition model, inspired by the war era Despatch riders, are priced at Rs 2.25 lakh in Mumbai.
When asked about the reason for the limited edition Bullets, Singh said, at a time when brand loyalty is a hard thing to come by, "we want to celebrate our customer loyalty for the purposeful longevity of our brand."
The limited edition Despatch motorcycles-the Desert Storm Despatch and Squadron Blue Despatch -- are a very special bike for all Royal Enfield fans as only a limited number are available.
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