Royal Enfield expands into Vietnam
13th Oct 2017 1:09 pm
The bike maker is expanding its presence in ASEAN countries by making its foray into Vietnam.
Royal Enfield has announced that they have entered the Vietnamese market by inaugurating its first flagship store in Ho Chi Minh City. The move is in line with the Indian bike maker’s plans to expand globally in the mid-sized motorcycle segment (250cc-750cc).
The Indian two-wheeler manufacturer already has a presence in Indonesia with exclusive outlets in Bali and Jakarta, and has also entered the Thai market with an exclusive store in Bangkok. Vietnam will be the third ASEAN country where Royal Enfield will have a presence.
The bikes that are expected to be introduced in the Vietnamese market are exclusively in the 500cc segment including the Bullet 500, Classic 500 and the Continental GT.
Speaking on the Vietnam entry, Royal Enfield president Rudratej Singh said, “Royal Enfield endeavours to reinvent and lead the global midsize motorcycle segment, and South-East Asia is a critical market for us in this global strategy. This segment is expanding in India and is a huge opportunity for Royal Enfield across the world. Vietnam has a large population that is young and commutes on two-wheelers, and is now aspiring to adopt the right medium of self-expression and exploration. With a strong heritage behind us, Royal Enfield offers motorcycles that are evocative and fun to ride, and at the same time, practical, functional and accessible for everyday use. With its vast landscapes and countryside, Vietnam is an ideal destination for pure motorcycling experiences. We hope to fuel the culture of exploration and leisure motorcycling with some of our best motorcycles in Vietnam.”
During the April-September 2017 period, Royal Enfield exported 8,561 units, indicating a year-on-year growth of 17.69 percent. In the domestic market, in the first quarter of FY2018, the manufacturer’s total sales were 378,304 units, an increase of 23.17 percent year-on-year.
Carberry Motorcycles launches 1,000cc bike at Rs 7.35 lakh
Royal Enfield twin-cylinder motorcycle to debut at EICMA
Royal Enfield Classic 350, 500 get new variants