Leyland CEO Vinod Dasari’s canada goose uk outlet appointment part of Royal Enfield 2
Despite making new additions to its product line up, Royal Enfield closed FY19 with almost no growth in domestic volumes. canada goose outlet canada Its motorcycle making peers, however, pushed the segment to close with a growth of eight percent.
Domestic volumes of the Chennai based manufacturer slipped 21 percent in April, the sixth consecutive month Canada Goose Online of canada goose outlet in usa decline. While the demand for its best sellers like Classic 350 have stagnated canada goose outlet new york city with market watchers predicting brand fatigue, its share price has crashed 23 percent since November.
Siddhartha Lal, the managing director of Eicher Motors, is thus looking to replug Royal Enfield under a new chief executive officer to canada goose outlet tide over the downturn and to prepare the 100 year old brand for the next round https://www.cheshuntteamministry.org.uk of products, canada goose outlet nyc most of which canada goose outlet store will be in Bharat Stage VI (BS VI) form.
The appointment is unprecedented in the company as, till now, Lal had donned both the roles of the CEO and MD.
«So there is a new CEO and there is canada goose factory outlet a shift in business in some form where the enormous growth trajectory we have gone through has tapered off a bit. So it’s canada goose factory sale an opportune time Canada Goose Outlet to be able to look at Royal Enfield 2.0 and how we are going to take it forward. There are lots of things canadian goose jacket we are working on,» Lal said during a conference call canada goose outlet canada goose black friday sale shop after announcing the fourth quarter results.
A multi fold increase in insurance costs, tighter liquidity availability, poor buyer sentiments and even the general elections are blamed by market Canada Goose sale watchers for the continuous decline in the retail two wheeler demand.
Royal Enfield has been experimenting with new products such as the Himalayan, but with limited success. Its best seller Classic 350, which makes up more than half of its sales, has seen demand stagnation especially in India’s urban pockets.
«It canada goose jacket outlet is an excellent opportunity for him canada goose outlet sale (Dasari) of course. The roll division is that he runs the company, he runs Royal Enfield entirely. My role will be to support him in various canada goose outlet online areas including in few specialized areas of product brand where currently he has less experience,» added Lal.
In November, Royal Enfield launched two 650cc powered bikes, in India, which were also its most expensive ever. The company is content by the way the two bikes Continental GT and Interceptor have been received by the market so far.
«In more buy canada goose jacket mature market within India the Classic is not growing anymore and that is where we will see the Continental GT and Himalayan do the heavy weight lifting to grow the brand. As we get into smaller towns the Classic is still an aspiration,» added Lal.
Starting with around 325 units Royal Enfield ramped up volumes to 2,000 units of the twins by end of April. It is presently exporting half of the production of the two bikes even as the waiting period on them in India is around four months.
Dasari said, «This is a very exciting time for the two canada goose outlet toronto factory wheeler industry. There are cheap canada goose so many regulatory changes being done. At the same time there are fantastic set of new products coming in at Royal Enfield so I look at this as a superb opportunity to make quite a few changes that we previously did not even have the time to do because we were just running after sales.».