This underperformance signals a lackluster demand in the mass two-wheeler segment. “While we await real world feedback for the product, it (Harley-Davidson X440) ticks all the right boxes on paper to make it successful," said analysts at Motilal Oswal Financial Services in a report on 4 July.Īll said, Hero’s wholesale volumes were down almost 10% year-on-year in June. While it may take time for Harley's production capacity and sales network to fully expand, the impact on Royal Enfield’s market share may be significant over time, warranting investor vigilance. “We await the India launch of Bajaj-Triumph bikes on 5 July, but the pricing of Harley may make Triumph also consider aggressive pricing," said the Nomura report. ![]() An additional threat looms with Bajaj Auto Ltd's anticipated launch of Triumph bikes on 5 July. With the Hero's new offering, the potential of losing market share in this premium segment seems palpable. Royal Enfield has the largest share in the premium motorcycle segment (>250cc). Meanwhile, shares of Eicher Motors Ltd, the parent company of Royal Enfield, were down nearly 5% today. Harley is an aspirational brand, and consumers in the 350cc segment will find this pricing very attractive," said analysts at Nomura Financial Advisory and Securities (India) in a report on 3 July. “We are positively surprised by the very attractive pricing of the X440, which is only at about 15-20% premium to the Royal Enfield Classic 350cc and Meteor 350cc. The X440 is priced at a competitive ₹229,000 for the base model and ₹269,000 for the high-end variant.
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