India, Aug. 4 -- Premium motorcycle companies can earn high profits because customers buy more than just a vehicle. They pay for the brand, riding experience and lifestyle. But even the strongest brands can face challenges if growth depends too much on one product category, new factories are built faster than demand grows or international markets fail to perform as expected.

Eicher Motors owns Royal Enfield and holds a 54.4 percent stake in VE Commercial Vehicles (VECV). During FY26, Royal Enfield controlled roughly 84 percent to 89 percent of India's mid-size motorcycle market, giving it the lion's share of the segment.

The headline numbers certainly look impressive. Royal Enfield sold a record 12.27 lakh motorcycles in FY26 and then...