Popular Royal Enfield motorcycles are sold in different countries of the world. Buyers lined up practically outside the showroom to buy retro-designed roadster bikes.
Recently, Royal Enfield said that they want to start business in India as well as Bangladesh and Nepal. Factories will soon be built in both countries.
Royal Enfield Chief Executive Officer B Govindarajan said that exports have increased tremendously in the last financial year. Royal Enfield is going to start assembly units in Bangladesh and Nepal to increase its presence in the global market.
Royal Enfield assembles medium weight i.e. 250 cc to 750 cc motorcycles in more than 40 countries of the world. This time Bangladesh and Nepal will be added to this list.
In an interview to PTI, Govindarajan said there is a great opportunity to increase the market share in the markets where Royal Enfield is present.
He also said that due to the law, they will not be able to directly export motorcycles made in India to the markets of Bangladesh or Nepal, rather, their motorcycles will be marketed in partnership with local partners.
Govindarajan said, this journey started with North America. Where today our market share is 8.1 percent. On the other hand, this market share in Europe, Middle East and Africa has reached about 10 percent.
He said the biggest contributor to this success was their ‘J’ series engines like the Royal Enfield Meteor, Classic and new Hunter models.
Royal Enfield has set a great example in terms of exports in the financial year 2022-23. One lakh 55 units were exported in 2023. In 2022 there were 81 thousand 32.
Govindarajan said, our target now is North America, Latin America, Asia-Pacific region, Bangladesh and Nepal. We are planning to increase sales in South Asia in the new financial year.
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