Royal Enfield is gearing up for a significant update in its motorcycle lineup this year, focusing on the beloved Classic series. Our sources at Autocar Professional have shared that the company plans to introduce a refreshed Classic 350 along with its 350cc counterparts, and an all-new Classic 650.
What’s New in the Classic Series?
The Classic 350, a fan favorite, will receive its first major update since transitioning to the new generation J platform. This update will also extend to its sibling models like the Bullet, Hunter, and Meteor, which are part of the 350cc family. These changes are expected to enhance performance and offer a fresh look while keeping the nostalgic charm of the bikes.
In a bold expansion move, Royal Enfield will also introduce the Classic 650. Positioned above the well-known Interceptor 650 but below the upcoming Shotgun 650, the Classic 650 is set to be the largest model in the Classic lineup. This new addition is eagerly anticipated by enthusiasts looking for a blend of classic styling and more powerful performance.
Ambitious Sales Goals and Expansion Plans
This year, Royal Enfield has set an ambitious target of crossing 1 million unit sales for the first time. To support this goal, the company is planning to introduce 6-9 new models by FY25, marking the most aggressive product launch phase in its history.
Investing in Growth and Innovation
Royal Enfield is not just expanding its product line but also enhancing its research and development capabilities. The company has earmarked an investment of Rs 1200 crore to Rs 1400 crore for the current financial year. These funds will be used to boost the product portfolio, R&D efforts, and other critical areas to maintain its dominance in the Indian market.
Enhancing Customer Experience
Beyond motorcycles, Royal Enfield is focusing on enriching the overall ownership experience. This includes offering branded apparels and accessories, an assured buyback program, and a well-supported used vehicle program called ReOwn. Furthermore, the company has ventured into the rental space to make sure enthusiasts around the world can experience the Royal Enfield brand.
Market Performance and Global Outreach
Royal Enfield continues to hold a significant share in the Indian motorcycle market, despite new global competitors like Harley Davidson and Triumph entering the fray. Last year, the company achieved an 88 percent market share in the 250 - 800 cc segment. On the global front, Royal Enfield is focusing on increasing its international sales, targeting 75,000 to 90,000 units this year, following some challenges in the previous financial year.