It’s safe to assume that owning a Royal Enfield is every Indian biker’s dream. Well, India’s largest premium two-wheeler maker’s entry into the pre-owned bike business is just the good news biking enthusiasts needed to hear.
Image Credit - Google
Royal Enfield has trademarked the name ‘Reown’ and under this brand name, the Chennai-based company is looking to enter the pre-owned segment.
Image Credit - Google
Considering the growth of the premium bike segment in the last few years and Royal Enfield’s own sales touching 60,000 per month, experts say that this might make the brand accessible to more customers, leading to an additional revenue channel for the company.
Image Credit - Google
India’s two-wheeler market is largely dominated by entry-level (76-100cc) bikes at 51 per cent market share in FY23, and commuter (110-150cc) bikes at 30 per cent
Image Credit - Google
The premium segment—that comprises bikes above 150cc—accounted for 18 per cent in the same period.
Image Credit - Google
But five years ago, premium bike sales accounted for just 14 per cent, while entry and commuter bikes accounted for 59 and 26 per cent, respectively
Image Credit - Google
With bike makers like Royal Enfield getting into the space, it will also help bikers get access to certified purchase options as opposed to unorganized market sales prevalent in the industry
Image Credit - Google
The ‘Reown’ brand will be the first of its kind initiative for the 350 plus premium segment however, bike makers like Triumph and Ducati are already running their pre-owned businesses.
Image Credit - Google
Now that Royal Enfield is foraying into the pre-owned bike business, are there any takers for India’s most popular superbike brand?