2021 Classic 350 launch is scheduled for the coming year. The most popular Royal Enfield constitutes for well over 60% of the company’s sales…
Royal Enfield is the market leader in the mid-capacity engine (350-500 cc) motorcycling segment, with a market share of whopping 90-95%. However, the company has realized that the competition is increasing every single day, and it must act fast to retain its turf.
To take on the market, Royal Enfield has readied its RE 2.0 strategy, through which it plans to launch around 15-20 products over the next 3-5 years. It means a new product every quarter! RE is already working on developing new platforms, and the Meteor 350 was the first product built on the ‘J platform’.
The Chennai-based manufacturer now plans to update its other popular motorcycles, including the Classic 350 and Bullet to the new platform. The next-gen Classic 350, based on the J platform of the Meteor, will be launched within one year according to an online report. The new model has often been caught testing on the roads (see spy pics here) and it will come equipped with a lot of fresh features, apart from that new engine and frame.
Classic 350 is arguably the most important motorcycle for the company, as it makes up for over 60% of RE’s overall sales. If you think that this share is high, you will be surprised to know that Classic’s share used to be as high as 85%, until a few months back.
Now with the competition, comprising of Honda, Jawa, Benelli, etc, is planning to take RE head-on on its own turf, the company realizes that it needs to upgrade its old workhorse to remain relevant in the market. It remains to be seen how the market settles down in the days to come.
Source: Economic Times