Royal Enfield is seeking to grow its presence in the Asean market over the next two years, mainly in Indonesia and Thailand. Royal Enfield opened shop in Jakarta, Indonesia three weeks ago and in Bangkok, Thailand few days ago.
Arun Gopal, International Business Head, Royal Enfield said, "Royal Enfield has an ambition to be a leader in the mid-sized motorcycle segment of 250cc-750cc in the international market," Mr Gopal said. "We have already entered developed markets such as Europe, the USA and Japan, and next are emerging markets."
Royal Enfield plans to ramp up their capacity by 50 per cent every quarter to meet demand in the market. The Royal Enfield brand has been marketed in Malaysia, Brunei, the Philippines and Singapore for some time. However, they are small markets and sales have remained thin. In comparison, the motorcycle markets in Indonesia and Thailand are huge, with annual sales of 6.5 million and 1.6 million units respectively.
Royal Enfield aims to sell about 6.2 lakh motorcycles worldwide this year, up 38 per cent from last year. The motorcycle company is also considering Cambodia and Vietnam for future expansion.
