Since the iconic Harley Davidson would be ready to hit the Indian markets in 2010 Royal Enfield decided to buckle up its shoes. Moving ahead from its domestic product line-up of Bullet 350, Bullet Electra, Bullet Electra 5S and Thunderbird Twinspark 350 Royal Enfield went ahead and expanded its portfolio by launching the Classic 500 and the Classic 350 on November 4, 2009 each one priced at Rs 1.25 lakh and Rs 98,086 respectively.
RL Ravichandran CEO Royal Enfield claimed that they have made an investment of Rs 63 crores over the last 3-5 years and intend to make further investments in the next 3 years with a view to increasing the production capacity. He also commented that they are estimating a growth rate of 15% per annum.
As far as the marketing and advertising goes Ravichandran claims that they would be using unique methods to reach out to their target group. Siddharth Lal MD and CEO, Eicher Motors commented that they would be organizing riding activities like the ‘10 day Himalayan Odyssey’ or the ‘Tour Rajasthan’ campaign with a view to connect with their target group. He further commented that they would be organizing bike rides every month and is keenly looking forward to their biggest activity-the Rider Mania which is an annual gathering for Royal Enfield riders from all across the country.