Royal Enfield to launch upgraded Classic 350, Classic 650 models
What's the story
Royal Enfield is preparing for a significant upgrade of its Classic motorcycle series within this fiscal year.
The revamp will include the introduction of the Classic 350 and the debut of the Classic 650, marking the first major overhaul since the Classic 350 migrated to the new generation J platform.
The company also plans to roll out five new models: Goan Classic 350, Scram 440, Guerilla 450, Interceptor Bear 650, and Classic 650.
Portfolio expansion
Royal Enfield to increase its product portfolio by nearly half
The enhancements made in the updated Classic 350 will also be incorporated into other 350cc models including the Bullet, Hunter, and Meteor.
This strategy is expected to increase Royal Enfield's product portfolio by nearly half in the upcoming year.
The company is utilizing a variety of products and engine structures to create a range of designs and form factors.
Future plans
Royal Enfield to launch 6-9 new models in FY25
Royal Enfield has an aggressive product strategy in place that includes launching six to nine new models in FY25 with a goal of achieving one million unit sales for the first time ever this year.
To facilitate this target, an investment of ₹1,200 crore to ₹1,400 crore has been earmarked for FY25.
This funding will enhance product portfolio, R&D capabilities and help Royal Enfield maintain its leading position in India's motorcycle market.
Global expansion
Royal Enfield's vision goes beyond products
Royal Enfield is expanding its presence in India with over 1,800 touchpoints and establishing a network of vehicle assembly bases worldwide to boost production.
The company's vision extends beyond products, encompassing lifecycle ownership aspects such as apparel and accessories, aftermarket services, buyback programs like ReOwn, and rental services.
This approach aims to make Royal Enfield's brand experience globally accessible.