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Royal Enfield Motors, which is part of the Eicher Motors, has announced that its recently launched 411 cc bike Himalayan, a motorcycle ‘purpose-built for adventure’ but suited for city traffic also , has started clocking monthly sales of more than 1,000 units.
“Himalayan has had very good reception and we are delighted with the progress of this young bike in our portfolio. As we have just completed pan-India roll-out, we are ramping up the production at our Oragadam factory, where the bike is produced,” Siddhartha Lal, Managing Director and CEO, Eicher Motors, said in an interaction with media persons at the company’s new factory at Oragadam, near Chennai.
However, he did not provide details about the production ramp up, but indicated that company was satisfied with the initial sales performance of the bike.
The Himalayan is an adventure bike on which users will be equally comfortable riding on the roads daily. It is “not an extreme adventure bike” and has created a new segment that has attracted good number new customers into Royal Enfield’s fold.
“Himalayan has attracted existing customers who wished to upgrade , and new buyers who were keen on Royal Enfield but were not interested in existing products. So, a new set of buyers are coming into our fold now,” he added.
Reiterating the company’s strategy of serving the mid-size super bike market (250cc-750cc), Lal pointed out that the company was planning to have at least three engine platforms and a range of products over the next three-five years.
Discussing competition and mid-size super bike market, he asserted that differentiated products would attract good customers and create its own segments. With Himalayan, the company was aiming to a new category in the super bike market.
The company has given a capacity guidance of 675,000 units for 2016-17 against its earlier projection of 620,000 units.
It aims to ramp up the total capacity to 900,000 units in the next couple of years.
A capex of ₹600 crore has been planned for this fiscal and the amount will be invested in product development, setting and developing two technical centres (at the UK and Chennai), boosting capacity at its existing plants and towards market development.
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