A staggering 508,099 Royal Enfield bikes were sold between April 2015 – March 2016, a rapid rate of expansion that’s growing more quickly with every passing quarter: it’s currently operating at a 60% growth rate, a performance that MD and CEO of the firm’s parent company Siddharha Lal described as “phenomenal.
“Royal Enfield has invested in building strong foundations across all areas of its business. We will be investing £60 million towards product development, setting up the two technical centres, in Leicestershire, UK and Chennai, India, enhancing our manufacturing capacity and market development activities across geographies.”
And if we thought half a million motorcycles was impressive, we haven’t seen nothing yet, said Lal. “In FY 2016-17, we plan to manufacture 675,000 motorcycles.
“Our immediate business outlook remains strong and Royal Enfield continues to grow consistently, competitively and profitably towards leading and expanding the mid-sized motorcycle segment globally.”
Royal Enfield is planning a series of new models and engines to further its expansion: to help with the development, it’s setting up a new R&D centre in Leicestershire and also, 12 months ago, bought Hertfordshire-based Harris Performance, a famous and respected motorcycle design and engineering firm.
Originally based in Redditch, England, Royal Enfield built its first motorcycle in 1901 and operated until 1970. The business also began collaborating with the Indian government in the 1950s and, in 1955, Enfield India was set up: the business merged with the Eicher Group in 1994 and, despite struggling in the 2000s, is today growing fast thanks to investment from its Indian parent.
Today, Royal Enfield claims to be the world’s oldest motorcycle manufacturer in continuous production. Its newest motorcycle, the Continental GT, is now being imported back to the UK.