Royal Enfield Bullet 500 is available in three different variants: the Classic 500, the Bullet 500 ES and the Bullet 500. The Classic 500 is the most popular variant and is powered by a 499 cc single cylinder engine. It has a maximum power output of 27.2 bhp and a peak torque of 41.3 Nm. The Bullet 500 ES on the other hand is powered by a 499 cc single cylinder engine, and has a maximum power output of 27.2 bhp and a peak torque of 41.3 Nm. The Bullet 500 is the most powerful variant and is powered by a 499 cc single cylinder engine that produces a maximum power output of 29.1 bhp and a peak torque of 44.8 Nm. All three variants come with a 5-speed gearbox.