Homegrown motorcycle brand Royal Enfield is looking to post an almost 50 per cent growth in the Uttar Pradesh market.
“Royal Enfield has been growing steadily in UP. In 2011, our sales grew by 27 per cent here and this year we have already registered a growth of 30 per cent over the average monthly sales volume of 2011,” the company’s Senior Vice-President Shaji Koshy said here.
The company on Friday launched the Royal Enfield Thunderbird in the UP market.
Where its sells nearly 500 units per month. Currently, it has 22 dealers in the state and five new dealerships are being planned to penetrate the market.
Replying to a query, he said the company’s growth was constrained by supply as the demand for Royal Enfield motorcycles was rising and the waiting period was as long as 8 months in some markets.
“We are setting up a new facility to augment our capacity to produce 1.5 lakh units per annum to cater the rising demand for our products,” Koshy said.
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During 2010 and 2011, the company had sold sold 50,000 and 75,000 units across India, respectively.
The Thunderbird is aimed at touring enthusiasts and several new features have been introduced in the 10-year-old popular brand to enhance biking pleasure. The on-road price in Lucknow of the Thunderbird 500 and Thunderbird 350 are about Rs 1,77,000 and Rs 1,39,000, respectively.
Royal Enfield also launched a range of motorcycle gear aimed at cruise bike riders. “The range has been launched after getting feedback from customers,” he added.
A division of Eicher Motors Limited, Royal Enfield operates through 11 brand stores and 236 dealers in India. It exports motorcycles to over 30 countries including the US, Japan, the UK and in Europe and West Asia.