Royal Enfield replaces TVS Motors as the 4th largest motorcycle seller in India
In the period between November 2016 to January 2017, Royal Enfield registered sales of 170,292 units, as against 118,489 units sold by TVS Motors.
After posing record-breaking sales of over 508,000 units during FY 2015-16, Royal Enfield is back with yet another surprise. The company is now the 4th largest motorcycle seller in the country, beating TVS Motor. It is to be noted here that TVS continues to be a larger two wheeler seller, than Royal Enfield, its just that their motorcycle sales have declined over the last 3 month period, largely due to demonetization.
After the government of India announced demonetization, sales of almost every two wheeler major slumped, but somehow Royal Enfield continued to post growth. Below is a sales report of top 5 motorcycle sellers in India for last three months – November 2016 to January 2017.
Riding on last year’s phenomenal sales record, when they posted their highest ever sales, the company is all set to break that record this fiscal as it aims to sell 675,000 motorcycles in FY 2016-17. Of all, Classic 350 continues to be the best-selling RE in the world.
Investments to the tune of £60 million / INR 600 crores has also been planned towards product development, establishing two new technical centers in Leicestershire, UK and Chennai, India. Apart from this, enhancement of manufacturing capacities and augmentation of market development globally has also been planned. While the UK technology center is slated to be completed by the second half of 2016-17, the Chennai based facility will be operational by 2017-18.
Royal Enfield also plans introduction of new models and engines for which the company is setting up a new R&D center in Leicestershire while around 1 year ago, the company purchased Harris Performance, a Hertfordshire based motorcycle design and engineering firm.
Royal Enfield is expected to launch their twin cylinder 750cc motorcycle in the first of this year. Spy shots reveal that this motorcycle is based on the Continental GT platform and will be the most powerful and fastest Royal Enfield ever built.