Chennai-based Royal Enfield (RE) has sold a shade over 3 lakh bikes in 2014 overtaking Harley-Davidson´s global sales of 2.67 lakh units.
After achieving this feat, RE now wants to capture the global market.
The main reason behind the sudden raise in sale is that HD´s most affordable model in India costs around IRs 5 lakhs while RE´s most expensive model comes for IRs 2 lakhs.
Royal Enfield reported 42 per cent jump in domestic sales at 28,157 units in January this year, compared to 19,808 units in the year ago month. The company’s total sales stood at 28,927 units in the last month, up 43 per cent from 20,232 units in January 2014. Exports stood at 770 units, up from 424 units in the year ago period.
Owned by the IRs 1,758 crore Eicher Motors and run by MD & CEO Siddhartha Lal, RE now wants to build a strong presence in Western Europe and the US while the domestic demand for its bikes remains strong.
With over 3 lakhs sales in 2014, it seems that Royal Enfield is all set to roar high. Milwaukee born Harley Davidson (HD) makes motorcycle with engine displacements over 700cc has witnessed a little downfall in terms of sale. HD´s worldwide sales grew by 3%, RE´s grew by 70%.
Ten years ago, RE was just a fringe player in the domestic motorcycle market but its newer and more reliable models compared to its Japanese rivals swamped the biking sector.