Royal Enfield intends to ramp-up its production capacity up to 9 lakh motorcycles by 2018-end
Royal Enfield has entered the Latin American country with three models-- Bullet 500, Classic 500 and the Continental GT cafe racer.
Indian niche motorcycle maker Royal Enfield has announced its entry into Brazil, the fourth largest two-wheeler market in the world.
The company has entered the Latin American country with three models-- Bullet 500, Classic 500 and the Continental GT cafe racer.
It has set up its second direct distribution subsidiary outside India in Brazil, with having established the first such entity in the US in 2015.
The newly-formed subsidiary - Royal Enfield Brazil - at Sao Paulo will sell bikes to dealers, as well as conduct all front-end development and support activities such as marketing and after-sales in the country.
A flagship store has also been opened in the city.
Rudratej (Rudy) Singh, President, Royal Enfield, said, "We are delighted to be formally entering Brazil, and are able to offer our motorcycles to a whole new group of customers, that will enable us to realise our competitive potential in the fourth biggest motorcycle market in the world."
The company sees a huge opportunity in Brazil that has a hugely underserved mid-sized motorcycle market with a massive commuter base, he added.
Singh said, "With motorcycle enthusiasts in Brazil waiting to upgrade to simple yet timeless and evocative motorcycles, Royal Enfield with its authentic British pedigree will be able to provide an excellent alternative with an accessible cost of ownership."
In the coming years, Brazil can become one of the company's biggest markets outside of India and help it become a leader in the middle weight motorcycle segment globally, he added.
The company sold more than 6.6 lakh units globally in 2016-17 fiscal. It intends to ramp-up its production capacity to up to 9 lakh motorcycles by 2018-end, to meet its increasingly rising global demands.
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