Homegrown middleweight cruiser maker Royal Enfield has announced its entry into Argentina, the second largest motorcycle market in Latin America, with the launch of its first flagship store in the heart of Buenos Aires. The store is capable of full commercial operations including after sales, spares and service. As a part of its growth strategy and focused international thrust of leading and expanding the global mid-sized motorcycle market, Argentina is the third country after Brazil and Colombia in the Latin American region to have an exclusive Royal Enfield store.
With a production expected to be in excess of 800,000 units in FY 2018, Enfield is by far the largest motorcycle manufacturer in the world in the 250-750cc engine category. Almost 98 percent of its sales, however, comes from its home country and the firm has been looking to spread its wings globally. In order to do so, it showcased its first twin cylinder 650cc bike, the Interceptor, last year that is expected to spearhead its penetration into international markets. The company expects most of the sales outside India would come from markets like South East Asia and Latin America.
"Royal Enfield is the fastest growing motorcycle brand in the world. Our approach in international markets has been to focus on key cities that strongly influence the motorcycling and lifestyle culture in the country," said Rudratej (Rudy) Singh, President, Royal Enfield. "Our fast growing network of flagship stores are now present in nodal cities like London, Paris, Madrid, Barcelona and Melbourne to name a few. More recently our focus has been on fast emerging motorcycle markets, like South East Asia and Latin America. We are expanding our footprint in the Latin American region, where we already have established presence in key cities like Sao Paulo, Medellin and Bogota. The flagship store in Buenos Aires fit right into our city-focused global expansion approach. People here are looking for fun, evocative, leisure motorcycling options that are practical for city-riding as well. We look forward to bringing the Royal Enfield world of pure motorcycling to Argentina that will enable us to realize our competitive potential in the second biggest motorcycle market in the South American region"
The company will be present in Argentina with a lineup of four of its models featuring single-cylinder engines currently up to 535 cc. Available models include - the Bullet (500cc), the Classic (500cc), the Continental GT (535cc) cafe racer and the Himalayan (410cc) - purpose-built for adventure and touring.
Brazil, Argentina and Colombia are among the three most important markets for Royal Enfield in Latin America. Beyond India (the biggest market for the brand with over 790 dealerships), the company's global presence includes more than 540 dealerships in over 50 countries worldwide and 36 exclusive brand stores in nodal cities such as Milwaukee, London, Paris, Madrid, Barcelona, Melbourne, Sao Paulo, Bogota, Medellin, Dubai, Bangkok, Jakarta, Manila, Ho Chi Minh City, and now Buenos Aires. Royal Enfield sold more than 660,000 units globally in FY 2016-17, and intends to ramp-up its production capacity to up-to 900,000 motorcycles by end of 2018, to meet its increasingly rising global demands.
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