The Chennai-based Eicher Group owned manufacturer, Royal Enfield, has given a number of hits to the Indian two-wheeler market, whereas the brand has become the royal choice of the riders. Recently, the firm has set a new milestone by selling 200 units of Despatch motorcycles in just 26 minutes. Now, the firm is planning to expand its business globally. To make strong its motorcycle business in the international markets, the Managing Director & CEO of Eicher Motors, Siddhartha Lal, has decided to relocate to the UK for a year to expand its business of motorcycle. Moreover, the Siddhartha Lal will establish a new research & development-cum-tech development center in the UK. Thus, the firm aims to be a global player in the segment of 250cc-750cc motorcycle over the next decade.
The firm has sold its motorcycles in the heritage market including UK, United State and Europe and is making a planning to entering into the new markets including Latin America and South East Asian countries.
Lal said: "I want to make Royal Enfield one of the top contenders in the global premium bike market. We have entered traditional markets, such as the US, Australia, the UK and Japan, and recently forayed into newer markets, such as Colombia and Dubai, in a small way. Our international sales currently contribute less than 5% to overall sales and I seek to make it big."
Recently, the firm reported a 41% growth in net profit for the first half of 2015 and plans to increase the production capacity to 52,000 units a month by the end of the current year. The current production capacity of the motorcycles is 36,500 units. The firm is working on the two new engine platforms on which multiple products could be launched. The new products might be in the range of 250cc and 7500cc that could be launched in the next year. As of now, the firm has several models in its portfolio that comprises of Continental GT, Thunderbird, Classic and Bullet.