Royal Enfield eyes new markets in Latin America, SE Asia

  • Aug 12, 2014
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Royal Enfield is already selling motorcycles in developed markets such as US, UK, Europe, Japan and Australia

Royal Enfield Classic Chrome

In a bid to expand its presence in emerging markets, Royal Enfield is looking to enter new markets in Latin America and Southeast Asia in the next three years.

The company is already selling motorcycles in various developed markets including the US, UK, Europe, Japan and Australia and has already appointed a distributor for the Colombian market recently.

“Besides the developed markets, we are also looking to expand in the emerging markets in the next 1-3 years. We are looking to enter markets in Latin America and South East Asia,” Eicher Motors Ltd MD and CEO Siddhartha Lal is quoted to have told a group of reporters in a conference call.

Royal Enfield is the motorcycle division of Eicher Motors and has posted an impressive 80 per cent month-on-month growth in July. Now the Chennai-based motorcycle maker is looking to scale up its production at its two facilities in Tamil Nadu by year-end.

“We had projected a production capacity of 2.8 lakh units for 2014 but we are all set to surpass that and touch 3 lakh units by the end of the year.  We plan to touch 4 lakh units per annum mark by 2015 end,” Lal is quoted as saying.

In 2013, Royal Enfield had produced a total of 1.78 lakh bikes. The company is in the process of investing Rs 600 crore on various activities including capacity expansion and development of new global product platforms over 2014 and 2015.

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