Royal Enfield to build motorcycles in Nepal, Bangladesh. Details here
Royal Enfield has planned to set up assembly operations in two neighbouring countries, revealed the company's CEO B Govindarajan. PTI has reported that the homegrown two-wheeler giant will set up assembly operations in Nepal and Bangladesh to build motorcycles in those countries. This would help the company to enhance its share in the global market.
Royal Enfield currently has a presence in more than 40 counties worldwide in the middleweight motorcycle category of 250 cc to 750 cc. The report claims that the company is banking on its existing products, and a slew of new products lined up for launch to enhance its share in the markets and segments where it is currently present. However, the company did not elaborate on the plans for the upcoming products. The company's CEO said that Royal Enfield would look at the adjacent segments of its existing models.
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Royal Enfield's CEO reportedly said that the company feels there is a huge potential for the auto company to gain market share more and more in all the markets where it is currently present. "We feel there's a huge potential for Royal Enfield to gain market share more and more in all the markets where we are present," he said. Setting up new assembly plants in Nepal and Bangladesh is a part of that global expansion strategy. Govindarajan said that currently, Royal Enfield can not export its fully built motorcycles to these countries due to legislation. Building the motorcycles locally through local partners will help Royal Enfield to overcome that challenge.
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The Royal Enfield CEO also said that it had gained a market share of almost 8.1 per cent in the North American region after launching its products through its own subsidiary. The company claims to have about nine per cent market share in the APAC region, while the OEM has almost 10 per cent market share in the EMEA region.
Govindarajan also said that the gain in market share across different regions worldwide has been on the back of the company's J-series engines, which come with higher refinement. These engines debuted through the Meteor and subsequently in Classic and then in Hunter models. "It is actually getting us a new set of consumers across the globe because everybody feels the quality levels of Royal Enfield are outstanding, and it is at an accessible price point," he added.