Royal Enfield has joined hands with L&T Finance to provide attractive two-wheeler loans to the customers. The company has introduced the ‘Welcome 2022’ loan scheme for the customers, under which the customers of Royal Enfield will be provided bike loans immediately without any hypothecation.
Under this scheme, the company will provide loans to the customers at a minimum interest rate of 7.99 percent. Apart from this, the company will also provide 90 percent finance of the bike’s value, in which customers will have to pay all the installments within four years. To avail of this scheme, customers can contact their nearest Royal Enfield dealership or L&T Finance branch or visit the L&T Finance website.
According to L&T Finance, analytics-based credit decision making, digital on-boarding and best-in-industry turnaround time (TAT) make the company a better two-wheeler financier. The tie-up between L&T Finance and Royal Enfield will enable customers in Tier I, Tier II and Tier III cities and towns to buy their favorite Royal Enfield motorcycles.
Royal Enfield has released the December 2021 sales report. The company has been informed about minor changes in the sales for December 2021. The bike maker sold 65,187 units of vehicles in December 2021 while 65,492 units of two-wheelers were sold in December 2020. The company’s performance was better as compared to November 2021, when the company had sold 44,133 units.
Royal Enfield exported 8,552 units last month, registering an increase of 144.13 percent as against 3,503 units exported in December 2020. In terms of year-on-year sales, Royal Enfield sold 3,60,898 units between April to December 2021 as against 3,83,779 units were sold during April to December 2020. There has been a decline of about six percent in this.
On the other hand, motorcycle exports grew by 135 percent to 55,695 units in December 2021 from 23,677 units in December 2020. The year 2021 was special with the launch of the new generation Classic 350. Apart from this, the company last month introduced the anniversary editions of its 650cc Continental GT and Interceptor with all the units sold out in record time.
To let you know, Royal Enfield has started operating its local assembly unit and CKD (Completely Knocked Down) facility in Thailand keeping an eye on the growing two-wheeler market in the South-East Asia region. This is Royal Enfield’s third local CKD facility after Argentina and Colombia, apart from its state-of-the-art manufacturing facilities in Chennai.
Royal Enfield’s local assembly unit will not only cater to the local demand but also act as a distribution hub for Indonesia, Vietnam and other countries in the South-East Asian region. The company is confident that this will further boost the prospects and increase the opportunities for expansion of the company.
Royal Enfield first entered the Thai market in 2015. The company claims that it has made great strides in the Asia-Pacific (APAC) region. The company says it is now one of the top five manufacturers in the premium, mid-sized motorcycle segment in markets such as Thailand, Australia, New Zealand and Korea.
The company is also looking to expand its retail network, service and dealership in Southeast Asian countries. Royal Enfield plans to introduce four new bike models in the next two years. While the company has already launched the new Classic 350 and Meteor 350, the other two bikes will be launched in the coming days.
Royal Enfield has also revealed its new concept motorcycle SG 650 at the International Motorcycle Exhibition in Milan. The bike maker hasn’t shared any details of the new bike yet, but the model is speculated to be based on the existing 650cc platform that is found in the Continental GT 650 and Interceptor 650 bikes.