Royal Enfield may hike prices again
Niche bike maker Royal Enfield may raise prices from April in view of rising commodity prices, a high firm official quoted recently. A part of Eicher Motors, the two-wheeler maker company has already elevated prices by multiple times during the last six months.
“Commodity prices have gone up, we have tried to offset it by multiple things including price hikes in the last few months. We will probably be increasing prices again in April like everyone else in the industry,” Royal Enfield CEO Vinod K Dasari informed reporters. When confirmed about the quantum of the price hike, Vinod K Dasari told it would be in single-digit (percentage terms).
Explaining the company’s export plans, Eicher Managing Director Siddhartha Lal mentioned the corporate goals to be the primary participant in the mid-sized motorbike phase globally. He quoted, “We want to be present across all relevant markets across the globe. Our aim is to be the number one player in the mid-size bike segment in the next decade”.
Speaking about the company’s plan, Managing Director Lal further said that the company had enough headroom for a year or two in terms of production capacity across its manufacturing plants. On introducing electric vehicles, he said time was not ripe to come out with products which the company would like to bring, due to cost and other factors. He added, the firm is putting efforts and working on the EV technology but there were no immediate plans regarding the introduction of such vehicles.
Royal Enfield performed relatively better last quarter in December by selling 1.99 lakh units, up 5 per cent from 1.89 lakh units in October December 2019-20.