Triumph Motorcycles India aims to break even in the next few years with an annual sales volume of 1,700-2,000 units. It is also bullish on the partnership with Bajaj Auto to make midsize bikes for India and the global market.
21 Mar 2018 | 6709 Views | By Sumantra B Barooah & Ujal Nair
Triumph Motorcycles India today launched the Model Year 2018 Tiger 800 adventure motorcycle with prices starting at Rs 11.7 lakh.
Speaking at the launch of the 2018 Triumph Tiger 800 today, Vimal Sumbly, managing director, Triumph Motorcycles India, said the company has seen CAGR of 63 percent while the CAGR ...
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Triumph Motorcycles India today launched the Model Year 2018 Tiger 800 adventure motorcycle with prices starting at Rs 11.7 lakh.
Speaking at the launch of the 2018 Triumph Tiger 800 today, Vimal Sumbly, managing director, Triumph Motorcycles India, said the company has seen CAGR of 63 percent while the CAGR of the over 500cc segment is 22 percent and the overall motorcycle market two percent. At this rate, Triumph expects to break even in the next 2-3 years with an annual sales volume of 1,700-2,000 units in India.
Triumph Motorcycles has more than 15 subsidiaries globally and Triumph Motorcycles India features among the top 10 in the list. With a growing base of young customers, India is a very important market for Triumph, says Sumbly. He expects India to be among the Top 5 markets for Triumph in the next 3-5 years. With ageing population in some global markets, motorcycling is being replaced with other activities.
Triumph India is looking to boost its sales through attractive EMIs. According to Sumbly, around 70 percent of Triumph's sales in India are financed through the HDFC finance schemes available at its showrooms in the country.
Betting big on new midsizers
The company is betting big on the new midsize bikes to be made in alliance with Bajaj Auto and is eager to penetrate this emerging segment in India. The product/s from this allaince will lower the entry barrier for a large base of customers to be Triumph owners.
At the launch of the 2018 Triumph Tiger 800 in Mumbai today, Sumbly stated that 90 percent of the India model range is locally assembled at its Manesar plant, while the rest comes through the import route. A year ago, this was exactly the opposite.
However, Sumbly also expressed his disappointment about the recent upward revision of the CKD rate by 5 percent. He stated that the company might consider importing bikes from its Thailand unit and assembling them in India if the fiscal policies do not seem conducive.
At the launch, Triumph Motorcycles India revealed 800 Tigers have been sold so far. Globally, 68,000 Tigers hav efound buyers since the model was launched in 2010. Out of the 27 models that Triumph markets globally, India has only 15; three more launches, including the Tiger 800 XCa and the Tiger 1200, are expected by the end of this year.
The premium motorcycle segment is getting more attractive as the premium prices are becoming more affordable to Indian buyers due to availability of finance options.
Also read: Boom time for midsize motorcycles in India