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Royal Enfield recently introduced their brand new motorcycle in the Indian market, in the form of the Meteor 350. The new Royal Enfield Meteor 350 comes in three variants and is offered with a starting price of Rs 1.75 lakh, ex-showroom (Delhi).
Post its launch, Vinod Dasari, CEO, Royal Enfield announced in an interview with PTI, that the company is planning on introducing a total of 28 new models in the market over the next seven years. Dasari stated that the company has plans of introducing a brand new model in the market, almost every quarter.
He stated, "We have now got a product plan for the next five to seven years. We are looking at launching a new model almost every quarter and I am not even talking variants and colour options kind of stuff...28 models at least (in the next seven years) that's the bare minimum."
Dasari further added that the new upcoming Royal Enfield motorcycles will be in the 250cc to 750cc range. He stated, "All these (new models) will play in the mid segment - 250cc to 750 cc. That's our focus area...and we will continue to strengthen it by bringing in an evocative, accessible, and truly global line of products."
However, Dasari did not reveal too many details related to the investments and production capacity required for such an aggressive sales strategy. He just mentioned, "We have adequate production capacity for the next 2 to 3 years, and therefore, a significant chunk of our investments will be directed towards the development of new products, technology, and capability enhancement, and global expansion."
Vinod stated that the company will be focussing on the mid-size motorcycle segment in the Indian market for the future. The mentioned how the segment has been hotting up with recent developments from its competitors, especially the partnership between Hero-Harley Davidson and also the introduction of the Honda H'ness CB 350.
Thoughts On The New Aggressive Sales Plans From Royal Enfield
Royal Enfield seems to have shifted gears with the introduction of the Meteor 350. With the introduction of one new model planned every quarter, the company seems set to retain its dominance in the segment, which is witnessing some stiff competition.