Royal Enfield aims higher sales volume in Europe, plans dedicated retail network
- Royal Enfield is aiming to increase its sales volume in the European market through its own dealership network and by introducing more new products.
Royal Enfield has already grabbed a sizeable chunk of the Indian motorcycle market with its slew of new-generation products that blend the premiumness and modern elements with the old-school charm, which the brand has been known for. Besides that, the motorcycle manufacturer has been aiming to grab a bigger chunk of the international market as well. Europe could be Royal Enfield's new focus area, hinted the company's CEO at EICMA 2023 in Milan.
Speaking to news agency PTI, Royal Enfield CEO B Govindarajan said that the auto company believes in replicating its success in Europe, which it enjoys in the Indian market in the middleweight motorcycle segment. His comment comes after the motorcycle brand globally unveiled its upcoming product, the Himalayan 452, which is slated to launch in India on November 24 this year and will replace the Himalayan 411 upon arrival.
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Royal Enfield currently is present in various international markets including in multiple countries across the European continent. The Eicher Motors-owned, Chennai-headquartered firm currently sells motorcycles all across Europe. Also, the company commands around 8.5 per cent market share in the middle-weight motorcycle segment in the European market. With the new products, the brand is aiming for bigger.
Watch: Royal Enfield Himalayan 452: Complete spec details revealed
Royal Enfield sells its motorcycles through around 600 multi-brand retail outlets across Europe and the number is expected to grow further, indicated the company's CEO. He also reportedly said that the company currently has a 20,000-strong riding community in Europe, which is expected to grow further in the coming days. Govindarajan noted that the company is in the process of creating a market for its products in Europe. "There is a huge potential for us to grow in this market (Europe) from our current market share of around 8.5 per cent...it's very difficult for anyone to say how much it will grow (going ahead) but from here it can go only in one direction that growth year on year, " he reportedly said, while also adding that, “All our products are Euro five now..and now we are into the brand building exercise and working with the community and making the brand to be a full brand here."
To achieve the target of grabbing a bigger market pie in Europe, Roya Enfield is mulling the plan to have its own distribution network in various countries across the continent, as it has been done in the UK. "In the UK, we have taken the distributorship and we are directly appointing dealers... We are also evaluating other markets in Europe and what sort of the method ... thereby we reach the consumers directly," Govindarajan said.
