Royal Enfield aims to manufacture 4 lakh motorcycles a year by 2015
Chennai based, Royal Enfield, makers of motorcycles which include Bullet, Classic Thunderbird and Continental GT have made their mark in the world of motorcycles. After establishing a network in India, the company has now found footing in developed markets of the US, UK, Europe, Japan and Australia.
Furthermore, the Indian company is now on a global expansion plan. They now wish to enter emerging markets of Latin America and Southeast Asia over the next three years. Though markets of Latin America and Southeast Asia are small, there is an increased demand for midsized motorcycles and hence the company wishes to bridge this gap with the launch of their range of new bikes.
Royal Enfield is working on new platforms and new engines which will see them launch enter newer segments and reach a far wider customer base in the near future. Royal Enfield also looks to scale up production capacities from 3 lakh units by the end of 2014 to over 4 lakh units by the end of 2015. Enhancing of capacities will result in shorter waiting periods for motorcycles which currently stands at 5 months on an average.
Royal Enfield has also various other expansion and development plans for 2014-15 for which the company is investing INR 600 crores in the development of new global product platforms.