The motorcycle wing of Eicher Motors, Royal Enfield is a popular name in India with its two-wheelers being one of the most favoured choices. The company now is set to cross borders and look for potential markets in foreign lands, in Latin America and Southeast Asia. This is a target that has been fixed by the company for the upcoming three years and they will look forward to finding a place in the new markets. This Chennai-based automobile manufacturer is also looking forward to boost the number of its production units by the next year to 4 lakh models at its two manufacturing centres in Tamil Nadu.
At a recent press conference, all these statements were declared by Siddhartha Lal, who is the MD and CEO of Eicher Motors Limited. He said, “Besides the developed markets, we are also looking to expand in the emerging markets in the next 1-3 years. We are looking to enter markets in Latin America and South East Asia. We have large ambitions in Colombia, where we have already appointed a distributor. We will be opening showrooms there before the end of this year.” In this aspect, the automobile manufacturer is also selling motorbikes is a number of various regions like the United States, the United Kingdom, Europe, Australia and Japan. He also said, “The market is largely under-served. Our endeavour is to fill the gap for mid-sized motorcycles in these markets,” about the potential aspects of the market in Latin America.
On the other hand, he also commented about the expansion of the number of units produced each year. “We had projected a production capacity of 2.8 lakh units for 2014 but we are all set to surpass that and touch 3 lakh units mark by the end of the year. We plan to touch 4 lakh units per annum mark by 2015 end.” It is expected that the waiting period for the motorcycles of this company will also reduce, which is currently at a period of 5 months on an average. There is an investment plan of approximately 600 crore INR on all these activities of expansion and development of several markets around the globe in the next couple of years.
