The legendary Classic 350 has now received a royal refresh with new colours and features perfect for all the motorcycle enthusiasts out there. This new upgraded model will come on the market in September.
2024 Royal Enfield Classic 350 Specs
The 2024 Classic 350 will be offered in seven eye-catching colors, allowing riders to customize their rides with style.
Bridging the gap from the old to new, however, is a cabin full of modern tech that ranges from an evolution USB charging port as standard (the previous model got none), LED lighting front and rear, helping better visibility for frugal electricity users on their way home before sun up or after sun down, followed by dual-channel ABS now fitted across all trims ensuring safer braking.
2024 Royal Enfield Classic 350 Price & Images
Although Royal Enfield has not revealed the price of this new Classic 350, it shall be on sale across India from September 1. The price will likely be announced by the company at that point.
In addition to this, Royal Enfield also announced the Factory Customs program as part of its launch event that allows buyers a personal touch and can customise their motorcycles directly from the factory.
Royal Enfield’s parent concern, Eicher Motors, recently announced stellar Q1 FY 2018-19 financial results. The company’s profit increased 19.66% to Rs11.01 billion ($131.2 million) in Q1 FY21, surpassing analysts’ expectations of 10.14 billion rupees, according to LSEG data.
Unprecedented Sales & Market Dynamics
Eicher Motors sell a record number of vehicles in each of the last two fiscal years. However, despite a favourable operating environment for the company over eight years (2014-21), competition and persistent high inflation are emerging as its key headwinds affecting demand.
Even then, local sales of Royal Enfields above 350cc (such as the Interceptor 650) increased 29% in the quarter. The bikes also make up a much bigger part of sales now, 13.6% compared with just 11.1% in the same time last year, and are much higher margin than other slices as well; Harley says that it was about half motorcycle mix for Q2 against almost three-quarters motorcycles this quarter (actually claiming around $5k more from those new road-hogs).
That was offset by a 13 percent growth in export sales (the rest of the world gets more powerful versions) while domestic volumes declined four percent. Hunter350–classified as a sub-350cc bike there–and other such model segments lost about five percentage points share (they still make up around 85% of total numbers).
To know more, click here.
Revenue and Market Position
Sales of commercial vehicles, such as trucks, led to an over 10% increase in overall revenue from operations to Rs43.93 trillion and was higher than what it analysts had projected at Rs42.38 bn This is a strong market position to be in for Eicher Motors.
Royal Enfield is still No. 1 in India’s premium bike market, But it is now faced with strong competition from players such as Triumph, which has teamed up with Bajaj Auto, and Harley Davidson, whose Indian partner Hero MotoCorp (currently the largest two-wheeler firm in India).
Conclusion
The arrival of the new Classic 350 and the introduction of the Factory Customs program showcases Royal Enfield’s commitment towards innovation and customer satisfaction.
Eicher Motors Financial Performance, as it deals with changing market dynamics, makes us believe in the strength of its Business Model and strategic initiatives to continue driving success. The upcoming Classic 350 aims to provide motorcycle lovers with a perfect coalescence of tradition and modernity.
Also Read: Maruti Suzuki India Reports Sales Decline in August
