- New product launches for double digit growth
- Likely to launch new Classic 350 range next year
Royal Enfield is betting big on new motorcycle launches next year in order to get back to the double digit growth.
This statement was made by Vinod Dasari, CEO, Royal Enfield. In 2019, the company saw a drop in sales for the first time in many years. While the sales drop took place across the industry due to economic slowdown, the top honcho said that the lack of new products also accelerated degrowth.
In order to get back to the double digit growth phase, the company has launched a new Royal Enfield 2.0 strategy. Here, the company will expand the product range, increase its geographical reach while selling various solutions and leveraging digital platform to build a global consumer brand from India.
The Chennai-based company is developing a new range of 350cc motorcycles that is likely to go on sale in India next year. These bikes will be BS6 compliant and will also look aesthetically different. Over the last few months, we have seen a few test mules of the next generation Classic as well as the Thunderbird range. All these bikes are likely to cost more, but will offer more features and performance over the existing products. .
Source: ET
