Indian motorcycle manufacturer Royal Enfield has announced that it expects strong sales growth in Colombia for its brands during 2022, and plans to open three new stores in the country, and has already begun assembling motorcycles in Colombia, leading to lower import duties.
The manufacturer says it has been impacted by a shortage of shipping containers leading to steep increases in shipping costs, along with the fall in the Colombian peso, making their products more expensive. Nevertheless, it opened an assembly plant in Colombia along with the Corbeta Group. The Colombian government charges lower duties on importing vehicle parts to be assembled in Colombia compared to importing finished products.
“We managed to open new points of sale, assemble the first motorcycle in Colombia, we gained some market share points and – for the first time in history – we managed to surpass the mark of 2000 units sold in the year. Comparing these results against those of the previous year we grew by 55%, which leaves us very happy,” said Mauricio Salazar (above), Regional Manager of Royal Enfield.
“We plan to launch new models in the mid-segment, we are going to expand our distribution network and after-sales coverage, and one of the largest projects is undoubtedly to increase the number of references we assemble in the country.”