Top gainer: Royal Enfield Motors records 40 percent YOY sales growth in US bike market
Royal Enfield Motors does justice to being the world’s oldest motorcycle brand by ensuring that the Bullets they manufacture go on to record profitable sales. For the first three quarters in 2011 the results are positive, and Royal Enfield Motors sales reflect 42,000 units globally by midyear. That equates to a sales growth rate of 40% in a YOY comparison.
Royal Enfield Motors sales goal for 2011 stands at upward of 70,000 units. At present, buyers in India have even been given a waiting period of a year for delivery of some bike models. In United States, Minnesota-based Classic Motorworks distributes Royal Enfield bikes and has reported sales growth of 50% this year. The US is now amongst Royal Enfield Motors’ strongest growth markets.
Royal Enfield Bullet sales haven’t suffered a setback despite the shaky global economic situation. Only recently, Royal Enfield made an announcement regarding anew manufacturing plant in India. This will churn out increased volumes and help the company meet global demand of their classic motorcycles.
Vice president of sales at Royal Enfield USA, Ron Greene had this to say. “The growth of Royal Enfield worldwide is very exciting, but growth in sales in America of 50 percent. … That’s amazing.” “Obviously we’re thrilled with the growth, but it shouldn’t be surprising. The bikes speak for themselves. Once people try an Enfield, they are hooked on a unique riding experience and that experience is reflected in the numbers.” “This is an exciting time for the Royal Enfield line.” “New customers are gravitating toward these bikes all the time, and our dealers have done a great job of helping them discover what a Bullet is all about.”