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Commercial vehicle and motorcycle manufacturer Eicher Motors has said that it expects an increase in demand of two-wheelers across the country because more people want to use independent means of transport in light of the Covid-19 pandemic.
Eicher Motors has a presence in the two-wheeler markets via its Royal Enfield brand that is a major player in the country, and also exports its products to international markets.
Mr Siddhartha Lal, the Managing Director at Eicher Motors said that the brand has witnessed a huge customer interest since lockdown restrictions were partially lifted across the country.
Mr Lal said, "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."
The brand is working towards expanding its retail and dealership networks, and is also strengthening its vendor and supplier chains, in order to reach out to more customers.
The brand is also integrating digital solutions across its network, and is partnering with multiple financial institutions in order to capitalise on a foreseeable demand.
Mr Lal said, "With an aim to further build accessibility through a host of seamless digital solutions and a variety of financial solutions, we are confident of capitalising on this demand as the situation stabilises."
The company also feels that Royal Enfield is ready for international expansion, and is expected to lead the middleweight segments across the globe.
Mr Lal said, "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."
The brand has performed very well in international markets and has witnessed a 96 percent volume growth. Developing and mature markets have done well, and the brands European markets registered a 100 percent growth over last year.
Thoughts About Eicher Motor Predicting An Increase In Demand For Two-Wheelers
We think everyone saw this coming. With something as contagious as Covid-19, people will want to, and will prefer to have their own means of transport. The two-wheeler industry will see a massive growth over the next few months.