Siddhartha Lal, Managing Director & CEO, Eicher Motors Limited said, “Royal Enfield has maintained its phenomenal growth trajectory even in Q3 2013 registering the best ever quarter results. We have registered year-on-year unit sales growth of 60.6% with record sales of 48,242 units as compared to 30,046 units in Q3 2012. We continue to extract operating leverage from the business, thus improving the EBIT margin to 17.5% in Q3 2013 as compared to 13.4% in Q3 2012.”
He added, “At Eicher, we are focussed on building strong foundations in order to achieve sustained growth over the long term. In line with this, VECV’s Eicher Trucks and Buses division (ETB) is preparing to launch its full new range of trucks and buses across light, medium and heavy duty next month. These are absolutely world-class products that will completely renew ETB’s product portfolio.”
“Royal Enfield has created and been leading the premium category of motorcycles in India for all these years with evocative products such as the Classic and the Thunderbird. In September 2013, Royal Enfield had its first successful global launch with the all new Continental GT- a motorcycle that perfects the essential elements of the most influential idea in motorcycling history – café racing. It is the lightest, fastest, most powerful Royal Enfield in production and possibly the most engaging mid-size motorcycle out there. The launch event held in the United Kingdom was attended by over 100 journalists from across the world. The bike has received tremendous response from the world media on both its authentic styling and performance and deliveries to customers in international markets has already begun. There is a lot of excitement about the India launch of the Continental GT that is scheduled for the last week of November. Being rolled out from the new state-of-the-art Royal Enfield plant at Oragadam, the Continental GT is a truly global product that will strengthen our portfolio as Royal Enfield aims for the position of global leader in the mid-size motorcycle segment”, he added.
“We continue to progress very well on our 50:50 joint venture with Polaris Industries Inc. where all developments are on course”, he further added.