Our sister publication, Autocar Professional, can now exclusively report that Royal Enfield will be looking at reigniting its Classic motorcycle portfolio this financial year. A major update will be given to the Classic 350 (and its 350cc siblings) for the first time since it shifted to the new generation J platform.
- First update to J-platform models since debut
- Classic 650 will be biggest Classic model ever
- Company targeting 1 million unit sales this year
Royal Enfield Classic 350 update, new models launching
We had exclusively reported a few days ago that Royal Enfield will be launching 5 new models – Goan Classic 350, Scram 440, Guerilla 450, Interceptor Bear 650 and Classic 650 before the end of the current financial year. This year will also see a major update to the revamped Classic 350 since it transitioned to the J platform engine from the erstwhile UCE motor. These updates will also trickle down to other 350cc models – the Bullet, Hunter and Meteor. This will lead to a product portfolio expansion of almost 50 percent in the coming year.
Sources say that the company is clearly flexing its muscles – by leveraging multiple products and engine architectures to create different form factors and design. It is also strengthening its geographical reach in the country with over 1800 touch points and it continues to build a network of vehicle assembly bases globally to boost volumes.
The focus is also moving beyond products to lifecycle ownership – right from apparels and accessories to the aftermarket, resorting to moves like assured buyback which is well supported by the organised used vehicle program called ReOwn. Plus, the company has also got into rental space to ensure that the brand Royal Enfield is experienced the world over.
Led by the most aggressive product onslaught in its history of over 6-9 new models in FY25, Royal Enfield has set a target to cross 1 million unit sales for the first time ever this year.
Our sister publication, Autocar Professional, learns that the company has lined up an investment of Rs 1200 crore to Rs 1400 crore in the current financial year as part of its business plan for FY25. The investment will go into boosting its product portfolio, R&D and other capabilities in order to ensure that the company continues to hold on to its predominant share in the Indian market.
It plans to sell more than 1 million units globally in FY25 which would lead to a growth of over 12-15 percent in the current financial year. The domestic sales target is around 9.4 lakh units, whereas international sales, which witnessed severe headwinds last financial year, are being focused upon to bolster growth with volumes of around 75,000 to 90,000 units.
An email sent to Royal Enfield seeking an official statement did not elicit any response and we will update this story if the company updates us.
Royal Enfield has held on to its market share in the growing Indian motorcycle market in a year that saw big global entrants such as Harley Davidson and Triumph. The company retained its share in the overall two wheeler space with a share of 4.64 percent and it retained a whopping share of 88 percent in 250 – 800 cc segment in the country with a sales of 8.34 lakh units.