Royal Enfield Unveils a Bold Pricing StrategyAnnouncements
Exciting news for all Royal Enfield enthusiasts and riders here in the U.S. In a recent move to reposition the brand, Royal Enfield has dropped its retail pricing dramatically, shifting up its efforts to lead the mid-size motorcycle market.
With increasing global demand and a new state-of-the-art factory, Royal Enfield has set its sights on becoming a worldwide leader in the growing midsize motorcycle market. (250cc-750cc) Siddartha Lal, the CEO and owner of Royal Enfield, kicked off the campaign by setting the tone immediately with the MSRP of the new 535cc Continental GT Café racer at only $5,999, much lower than industry observers expected.
Kevin Mahoney, the CEO of Classic Motorworks (the exclusive US importer of Royal Enfield), stated lowering the MSRP prices on the rest of the product line naturally followed suit from Siddartha Lal’s vision for the GT and the brand positioning overall. “We have always been a unique high value brand. Our high volumes (over 250,000 units will be sold globally in 2014) and increased efficiency allow us to make this aggressive move. We have lowered the MSRP on some of our products by almost $1,400. The suggested retail price range of the product line now starts at $4,999 and tops out at $5,999 for the new 535cc Continental GT. This effort in repositioning Royal Enfield as a brand will not only put more bikes on the road, but simultaneously gain more of the market share here in the U.S. We are thinking long-term with this move and feel the timing and the opportunity to grow even more will ensure success for Royal Enfield in the U.S.”
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CEO Classic Motorworks LTD