Royal Enfield has posted record-breaking bike sales of over half a million bikes in a year which has seen a 53.4% increase in sales in the past financial year.
The total sales from April 2015 to March 2016 saw 508,099 motorcycles sold around the world which compares to 331,169 sold the previous financial year.
In the final quarter of the year Royal Enfield sold 148,185 motorcycles with total income for Royal Enfield posted at £632.2 million. Operating profit has been announced at £162.7 million.
Siddhartha Lal, CEO of parent company Eicher Motors Limited said: “Royal Enfield performed exceedingly well in the last quarter, bringing a phenomenal 2015-16 financial year to an end. This has been a milestone year for us with the launch of the Himalayan - our first ever completely ground-up motorcycle. With the Himalayan, we introduced a purpose-built and versatile motorcycle that makes adventure touring more accessible in India. The motorcycle has been extremely well received by the community and customers that is reflected in our strong order book for the Himalayan.”
“Royal Enfield has invested in building strong foundations across all areas of its business. We will be investing £60 million towards product development, setting up the two technical centres, in Leicestershire, UK and Chennai, India, enhancing our manufacturing capacity and market development activities across geographies. In FY 2016-17, we plan to manufacture 675,000 motorcycles. Our immediate business outlook remains strong and Royal Enfield continues to grow consistently, competitively and profitably towards leading and expanding the mid-sized motorcycle segment globally” he added.
Royal Enfield has also announced that the development of its Leicestershire tech centre is continuing and is on course to be operational by the latter half of FY 2016-17, while the Chennai tech centre will be operational by 2017-18.