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Royal Enfield Launches REOWN Initiative To Tap Into Pre-Owned Motorcycle Market In India
Royal Enfield, a prominent two-wheeler manufacturer based in Chennai, has ventured into the pre-owned motorcycle market. The company believes that relying solely on new vehicle sales is insufficient for sustaining employment. Recently, Royal Enfield introduced two new electric bike models in India, responding to the growing demand for electric vehicles in the country.
Recognising the increasing popularity of second-hand vehicles in India, Royal Enfield has launched a new initiative called 'REOWN'. This brand will exclusively deal with pre-owned two-wheelers. Customers can sell their old motorcycles and upgrade to newer models through this service. Royal Enfield announced that REOWN will operate in 236 cities nationwide, with 475 dealerships already set up to support this venture.
The company aims to maintain its dominance in the used vehicle sector, similar to its success with new vehicle sales. Royal Enfield assures that all second-hand motorcycles under REOWN will undergo rigorous quality checks. Additionally, an exchange plan with a loyalty program has been introduced to attract customers. The company facilitates buying, selling, and exchanging vehicles both online and offline for customer convenience.
Customers can have their old motorcycles evaluated through free quality tests. They can choose to sell only if satisfied with the quoted value. This approach is expected to make REOWN appealing to Indian consumers. Although Royal Enfield is not the first manufacturer to enter the used vehicle market in India, it follows in the footsteps of major car companies like Mahindra and Maruti Suzuki.
Royal Enfield's entry into the pre-owned motorcycle market marks a significant step in its business strategy. The company aims to establish a strong presence in this sector alongside its new vehicle offerings. With the growing acceptance of used vehicles in India, Royal Enfield's REOWN initiative is poised for success.
The company's efforts reflect a broader trend where used vehicles are gaining popularity similar to new ones. By tapping into this market, Royal Enfield seeks to expand its reach and influence within the automotive industry. The reception of REOWN among Indian consumers will be closely watched as it unfolds.
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