Meteor to pull other brands’ buyers: Lal1 min read . Updated: 13 Nov 2020, 08:35 AM IST
- Meteor 350 is a strategic model for Royal Enfield that marks the beginning of the RE 2.0 plan that entails new products and platforms replacing the old range
Royal Enfield’s new Meteor 350 cruiser motorcycle, which will replace its popular Thunderbird range, seeks to attract buyers from other motorcycle brands who plan to upgrade their ride, a senior company executive said on Thursday.
“Meteor 350 is positioned to appeal to the upgrading pool of two-wheeler customers from other brands. These are those who currently ride commuter models (100-200cc) and want to upgrade to bigger and more premium bikes," said Siddhartha Lal, managing director, Eicher Motors Ltd, which owns Royal Enfield, during a call to discuss September-quarter earnings.
“The Meteor 350 will fill in the void left by the discontinued Thunderbird in our portfolio. When we were doing the market research for the Thunderbird 20 years ago, people said it would add more customers to the umbrella, especially those who do not buy the Bullet," Lal said. He added that the company has addressed the quirksaround refinement and quality that existed in the predecessor.
The new model is an all-new platform that Royal Enfield engineers were working on for four years, the management had said recently. Powered by an all-new, BS-VI single-cylinder, 349cc engine, the Meteor 350 was launched on 6 November in three variants at a price range of ₹1.81-.90 lakh (ex-showroom).
Meteor 350 has amassed over 8,000 bookings in just six days of its commercial launch, the management said.
Meanwhile, Honda Motorcycle and Scooter India Pvt. Ltd (HMSI), India’s second largest two-wheeler maker, said on Thursday that it has delivered over 1,000 units of the CB350 in 20 days after starting deliveries. The CB350 is the Japanese company’s first shot at competing with Royal Enfield’s 350cc Classic and Bullet range. Honda sells the CB350 in two variants costing ₹1.85-1.9 lakh (ex-showroom).
“We study competition, we understand what they are doing and we don’t copy. We do something entirely different," Lal said last week.
Meteor 350 is a strategic model for Royal Enfield that marks the beginning of the RE 2.0 plan that entails new products and platforms replacing the old range, and addressing concerns around product quality and after-sales experience, penetrating deeper into the domestic and overseas markets, and adopting digitization to build new customer experiences such as a mobile app for configuring bikes.