According to Bloomberg News, the anachronistic Indian motorcycle manufacturer is ramping production up to 100,000 units by the end of next year, and is hoping for a 27 per cent increase in sales in 2011, from 55,000 to 70,000.
To accommodate this, the company is planning to build a second factory to handle the increased production. â€¨â€¨
That’s some pretty impressive growth, but Royal Enfield executives feel it’s achievable. Thanks to rising wages in India, the company’s sales stronghold, the 1950s-styled bikes are hot, with waits of up to 10 months for the Classic 500 model.
Increased local sales aren’t the only reason for boosting production, though; Royal Enfield also has their eye on markets in Africa, the Middle East, and Latin America. Exports to North America, Japan, Australia, and the UK already account for 5 per cent of company sales. â€¨â€¨