Triumph Eyeing Rs. 3-5 Lakh Motorcycle Segment In India
Triumph Motorcycles is on a roll. The British motorcycle manufacturer entered the Indian market on 28th November 2013 and within five months of launch, the company has already started six dealerships in major cities throughout the country. The company launched 11 of its products here, out of which 7 will be brought down via the CKD route and assembled at a plant in Manesar, Haryana while the other bikes will be brought down via the CBU route. Officials from Triumph are very ambitious and optimistic about the company’s success in India.
The premium and luxury motorcycle segment is growing at a very fast rate right from 450 sales in 2009-10 to 3000 sales this year. Various companies like Kawasaki, Harley-Davidson as well as Ducati are planning aggressive strategies to increase their customer base. Vimal Sumbly, MD, Triumph Motorcycles India feels that the Rs. 3-5 lakh segment has a sweet spot since there aren’t any products in that price range except Harley’s Street 750. While Kawasaki’s bikes are priced from Rs. 3.6 lakhs to Rs. 17 lakhs, Ducati caters only to niche customers since their bikes are also priced high. Harley-Davidson occupies the top slot in the premium 2-wheeler segment as of now.
Harley-Davidson has a huge fan base in India and that is one of the major reasons for the company’s success here. Triumph is putting all its efforts to gain sales by offering attractive finance schemes, roadside assistance services, etc. The company already recorded 350 sales within five months of operations here and they are expecting to touch 500 units soon.
Triumph Motorcycles has set a target of around 2000 annual sales in the next three years. While the Rs. 3-5 lakh segment remains untouched as of now, the manufacturer will introduce a 250cc bike that could be slotted in this category. This new product is expected to make a global debut next year. Two products are on the cards and are likely to be called Daytona 250 and Speed Single.
Source – Autocar