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Prabhudas Lilladher Report
Eicher Motors Ltd.'s Royal Enfield has positioned Hunter 350 as a youth product with attractive pricing (~50-60,000 lower than Classic 350) and differentiated features (light in weight, non-cruiser, urban fit) which will expand customer base and attract first-time buyers (~50% of enquiries).
Our channel checks with dealers suggest double-digit growth in August 2022, despite cannibalisation of Classic 350 volumes (Aug-22 volumes down 18% month-on-month).
We expect Hunter volumes to increase further in October 2022 on account of festive season and growing acceptability.
Going ahead, we expect more model launches targeting aspirational first-time RE buyers which will drive volume growth. Furthermore, RE's export momentum remains strong and should sustain, with success of ‘J platform' compliant with Euro5.
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