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Royal Enfield Suffers Loss; Waiting Period Increases
Chennai's floods have claimed yet another victim — Royal Enfield.
The bikemaker suffered losses of 11,200 units due to the extreme flooding in the south Indian city. The floods in Tamil Nadu's capital wiped out production during the first week of December, leading to a loss in production of 7,200 bikes. The flooding during November had wiped out another 4,000 bikes.
"Due to heavy rains and flooding in Chennai, both of Royal Enfield's production facilities in Thiruvottiyur and Oragadam were shut since the December 1, 2015. We resumed production of motorcycles on December 7, 2015. However, due to a high rate of absenteeism by our employees, and issues with our local suppliers - we will be running at approximately 50 per cent capacity this week, and plan to be back up to 100 per cent capacity by next week," the bikemaker said in a statement.
Royal Enfield also stated that actual insurance loss will only be determined once "full normalcy is restored".
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