If you want to see aggression – check out how is Royal Enfield, despite the lack of latest technology, doing things. Eicher, the parent company, reported a 71.3 per cent profit growth in the last quarter. This though would not have been possible without the galactic rise of Royal Enfield. As per official SIAM figures we have, the motorcycle maker sold 4,98,791 units in the last fiscal which is a massive 53.92 per cent gain on a year on year basis.
Siddhartha Lal, Managing Director and CEO, Eicher, revealed his plans for the financial year 2016-17. They will be investing 600 crores in the Royal Enfield brand which would be used for product development, setting up of two technical centres, in Leicestershire (UK) and Chennai, and enhancing the manufacturing capacity. They will also conduct several market development activities across geographies.
The last fiscal saw them manufacture 5,11,611 motorcycles. Despite this they have strong order books which have been swelling with each passing day! To meet this demand the company plans to manufacture 6.75 lakh units this fiscal! Royal Enfield is on a mission to attain the numero uno position in the mid sized motorcycle territory on a global scale.
To see this happen, they are working on a twin cylinder engine which will truly make them enter the big league. However, they still have a long way to go and we hope they continue to improve the quality of their existing and upcoming products in the process…