FARIBAULT, Minn. – Royal Enfield said it is "dramatically" dropping its prices in an effort to reposition the brand and gain share in the mid-sized (250cc to 750cc) motorcycle market.
Siddartha Lal, CEO and owner of Royal Enfield, accounced that the MSRP of the new 535cc Continental GT cafe racer would be $5,999, lower than the market expected, he said.
The rest of the Royal Enfield product line is following suit, according to Kevin Mahoney, CEO of Classic Motorworks, the Minnesota-based importer for the U.S. market.
“Our high volumes ... and increased efficiency allow us to make this aggressive move. We have lowered the MSRP on some of our products by almost $1,400 and increased dealer profit margins at the same time. The suggested retail price range of the product line now starts at $4,999 and tops out at $5,999 for the new 535cc Continental GT," Mahoney added.
The pricing for 2014 Royal Enfield models is as follows:
- Bullet 500 B5 ($4,999)
- Bullet G5 Deluxe ($5,399)
- Bullet C5 Classic Special ($5,499)
- Bullet C5 Military Special ($5,499)
- Bullet C5 Chrome Special ($5,699)
- Continental GT Racer ($5,999)
The Cozy Sidecar option is priced at $3,495.
"This effort in repositioning Royal Enfield as a brand will not only put more bikes on the road, but simultaneously gain more of the market share here in the U.S.," Mahoney said. "We are thinking long-term with this move and feel the timing and the opportunity to grow even more will ensure success for Royal Enfield in the U.S.”
Royal Enfield says its new factory and increasing global demand means the company expects to ship roughly 250,000 units in 2014.
Media image courtesy of Royal Enfield.