Royal Enfield, the Chennai-based motorcycle manufacturer, has been on top gear in terms of sales this decade. The company registered nearly 50 percent growth each year and according to the sales chart, the Classic 350 model is the key product behind the surge in sales.
Royal Enfield sold 276,853 units of Classic 350 in the financial year 2015-16, which is 76 percent more than the sales in the previous fiscal, when it sold 157,531 units, reports Autocar professional. It contributed 55 percent to the total sales of Royal Enfield, which stood at 508,124 units in FY 2016.
First launched in 2009, Royal Enfield sold just 50,000 units of Classic 350 in the calendar year 2010. The sale of Classic 350 has seen steady increase since then. The vehicle has a current waiting period of up to six months.
The Classic 350 is powered by 346cc Twin spark single cyclinder engine that develops 19.8bhp at 5,250 rpm and 28Nm at 4,000rpm mated to five-speed manual transmission. The motorcycle has been priced at around Rs. 1.37 lakh, ex-showroom, New Delhi.
In 2015, Royal Enfield sold over 4.5 lakh motorcycles across the globe. It also announced its plan to produce up to nine lakh motorcycles by the end of 2018 at two of its existing manufacturing facilities and a third upcoming facility near Chennai. Royal Enfield has been expanding its global footprints across the U.K., Europe, Latin America, Middle-East, and now in South East Asia with a target to become a global leader in mid-sized motorcycle segment.