Bookings Returning to Pre-Covid Times: Royal Enfield

After disruption due to Covid-19 led lockdown, Royal Enfield bookings are returning to normalcy and these are green shoots for sure…

Royal Enfield is pretty aggressively pursuing this downturn to beat the lowdowns and make a good business case in this dampened market. It has announced plethora of new motorcycles which will be launched in the coming few months. The onslaught is expected to start from this month itself.

The company earlier announced that about 90 percent of its dealerships are now open. This included the full format stores as well as the smaller studio stores which it had opened in semi-urban and rural areas.

In a big sigh of relief, Siddharth Lal, Managing Director of Eicher Motors shared that its bookings are returning to pre-covid levels which is satisfactory. He said,

Our bookings are looking healthy and overall booking trend is close to normal on a run rate basis. We are quite satisfied at the moment.

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Royal Enfield bookings

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He also added that the company is not holding any long term investments and has a strong balance sheet and cash position.

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Vinod Dasari, CEO of the company believes that people may move away from shared transport and buy (aspirational) 2-wheelers. The company sold 1.25 lakh lesser motorcycles last financial year and suffered significant downfall in revenues as well.

Source – Livemint