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Got this news from the Royal Enfield website...There is mention about the upcoming 500cc bike too. A bit disappointing though.
Royal Enfield unveils upgraded Electra
Business Line, September 12,2003
ROYAL Enfield, a unit of Eicher Ltd, has unveiled an upgraded version of its best-selling Bullet Electra. The motorcycle is expected to be available in dealerships across the country by October 1, according to Mr. Siddhartha Lal, Chief Executive, Royal Enfield. The Bullet Electra, launched in August 2001, accounts for more than 50 per cent of Royal Enfield's motorcycle sales. The upgraded Electra comes with gas filled shock absorbers, which the Company says is the first time on an Indian motorcycle; glass wool silencer, which absorbs the high frequency noises and lets out the trademark Bullet beat; and a Transistor Coil Ignition and a bigger magneto, which improves the performance of the electricals.
Mr. Lal told a press conference here that the Bullet Electra had helped the company increase its overall volumes and attract newer customers. The upgraded Electra was meant to improve on the motorcycling experience offered by the earlier version. Coinciding with the launch of the new Electra, Royal Enfield also plans to come out with a major advertising push, in print and on television. The motorcycle, Mr. Lal said, was targeted at those upgrading from a 100 cc two-wheeler and those who wanted something more than what a 100 cc bike offered.
The new Electra would be priced marginally higher than the earlier version. Company officials said that the bike would cost about Rs. 68,000 and the one with disc brakes about Rs. 72,000. Asked about the advertising budget, Mr. Lal would not put a figure to it, stating that the company had been silent on this front for some time now. Royal Enfield had only recently become profitable and hence the ad budget would depend on how much money the company made. Later, in an informal chat, he said that the advertising and marketing budget could be 3-5 per cent of turnover, which this year was expected to be Rs. 200 crore compared to Rs. 170 crore last year.
The Company also hoped to substantially increase its R&D spend over the next three to five years, from 3-4 per cent of turnover now. Royal Enfield was also working on an entirely new bike, which would be unveiled early in the next financial year. It would display a new 500 cc motorcycle at the Birmingham motor show in November, for the export market. A new lean burn engine had been developed for this and the export-only motorcycle would be available for sale initially in the UK in March-April 2004, Mr. Lal said. He said the company hoped to sell about 30,000 motorcycles this year against nearly 28,000 sold last year. Exports were expected to go up to 2,000 units this year from 1,500 last year and would gradually increase to about 3,000 units in the next few years.
Royal Enfield unveils upgraded Electra
Business Line, September 12,2003
ROYAL Enfield, a unit of Eicher Ltd, has unveiled an upgraded version of its best-selling Bullet Electra. The motorcycle is expected to be available in dealerships across the country by October 1, according to Mr. Siddhartha Lal, Chief Executive, Royal Enfield. The Bullet Electra, launched in August 2001, accounts for more than 50 per cent of Royal Enfield's motorcycle sales. The upgraded Electra comes with gas filled shock absorbers, which the Company says is the first time on an Indian motorcycle; glass wool silencer, which absorbs the high frequency noises and lets out the trademark Bullet beat; and a Transistor Coil Ignition and a bigger magneto, which improves the performance of the electricals.
Mr. Lal told a press conference here that the Bullet Electra had helped the company increase its overall volumes and attract newer customers. The upgraded Electra was meant to improve on the motorcycling experience offered by the earlier version. Coinciding with the launch of the new Electra, Royal Enfield also plans to come out with a major advertising push, in print and on television. The motorcycle, Mr. Lal said, was targeted at those upgrading from a 100 cc two-wheeler and those who wanted something more than what a 100 cc bike offered.
The new Electra would be priced marginally higher than the earlier version. Company officials said that the bike would cost about Rs. 68,000 and the one with disc brakes about Rs. 72,000. Asked about the advertising budget, Mr. Lal would not put a figure to it, stating that the company had been silent on this front for some time now. Royal Enfield had only recently become profitable and hence the ad budget would depend on how much money the company made. Later, in an informal chat, he said that the advertising and marketing budget could be 3-5 per cent of turnover, which this year was expected to be Rs. 200 crore compared to Rs. 170 crore last year.
The Company also hoped to substantially increase its R&D spend over the next three to five years, from 3-4 per cent of turnover now. Royal Enfield was also working on an entirely new bike, which would be unveiled early in the next financial year. It would display a new 500 cc motorcycle at the Birmingham motor show in November, for the export market. A new lean burn engine had been developed for this and the export-only motorcycle would be available for sale initially in the UK in March-April 2004, Mr. Lal said. He said the company hoped to sell about 30,000 motorcycles this year against nearly 28,000 sold last year. Exports were expected to go up to 2,000 units this year from 1,500 last year and would gradually increase to about 3,000 units in the next few years.
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