Leading Indian motorcycle manufacturer Royal Enfield has reportedly increased prices of its entire range of motorcycles in the range of Rs 1,200 to Rs 3,600.
A report in Bikewale claims Classic Chrome has been the most-affected by the price hike. The model is pricier by Rs 3,652 on its on-road price in Mumbai. The report also says Desert Storm's on road price has been hiked by Rs 3,552. The Classic 500 is now costlier by 3,516 while Classic 350 is pricier by Rs 3,057.
Royal Enfield Thunderbird 500 and 350's prices has seen jump by Rs 1,630 and Rs 1.570 respectively. The Continental GT's price has been increased by Rs. 1,659 while Bullet 350 now priced Rs 2,779 additional. The company's latest launch, the Himalayan is also pricier by Rs 1,235, on-road Mumbai.
Price hike is not expected to make negative impact on the sales of Royal Enfield motorcycles. The models such as Classic range are hugely popular and still command waiting period of up to 10 months.
The Chennai based motorcycle manufacturer has been registering increased sales for the past couple of months. In July 2016, domestic sales of Royal Enfield stood at 52,128 units, up 31 percent from 39,587 motorcycles sold in July 2015 and the company's overall sales increased 31 percent to 53,378 units. For the four-month period ended July 2016, overall Royal Enfield motorcycle sales stood at 2,00,861 units, up 36 percent from 1,47,373 units sold during the corresponding period last year. Royal Enfield is also setting up a third plant in Chennai in order to increase annual production to 9 lakh from the current 4.5 lakh.