Royal Enfield Electric Motorcycles Coming Soon: Big Statement By The Company
According to a business representative, Royal Enfield is researching what consumers want from electric 2-wheeler vehicles that feature the company’s premium motorbike brand’s key characteristics.
According to him, Eicher Motors, the company that manufactures Royal Enfield motorcycles, has seen input cost pressure stabilize to some extent and anticipates an increase in demand during the upcoming holiday season.
With a larger distribution network, the company also expects rapid growth in semi-urban markets. According to Royal Enfield India Business Head V Jayapradeep, “We are studying expectations of consumers on electric variants of the two-wheeler with attributes of the brand.”
He added that the business is not pressing forward with electrified cars. Monday saw the introduction of the motorcycle’s new model, the “Hunter 350,” and Jayapradeep was there.
Despite a strong quarter from April to June of the current fiscal year, the company has not yet surpassed pre-COVID volume levels in line with the general trend of the market.
In the first quarter of the 2022–23 fiscal year, Royal Enfield sold 1,86,032 motorcycles, up 52% over the 1,22,170 units sold in the same quarter last year. The business stated that while it hasn’t decided whether to raise prices, it is closely monitoring the market.
Speaking about marketing, he claimed that semi-urban and rural markets in India experienced higher growth rates, around 60%.