Here Comes the Wave
Royal Enfield’s sales have been strong outside of India, but they’ve been down in its home country. That may be about the change and the company is planning for it.
The sales outside of the Indian market are expected to stay high and even increase but with the Indian society at large returning to something resembling regular life after the COVID-19 outbreak, the company expects to see an uptick in domestic sales.
“Going forward, we do estimate an increased demand for personal transportation and two-wheelers as people would be wary of using public transport. This, we believe, will augur well for us and for the industry as a whole,” said Eicher Motors Managing Director Siddhartha Lal about Enfield’s 2019-2020 annual report, as reported by Bloomberg. “Our international markets are beginning to show significant and sustainable growth trends on the back of motorcycles we have recently introduced —the Himalayan and the 650 Twin motorcycles—and we believe we have strong potential for further growing these markets for Royal Enfield.”
According to Business Today, the company doesn’t really expect to make up the sales it lost due to the economic downturn due to the COVID-19 pandemic, but it does expect business to return strong due to pent-up demand. Lal said, “while we expect the current year to continue to be challenging, we remain focussed on our long-term initiatives and are optimistic that the industry will be back on track soon, largely led by investments in infrastructure.”