American cruiser maker Harley Davidson has found a new competitor in the Indian premium bike segment. As per sources, by the end of March this year, Triumph Motorcycles limited is expected to open nine dealerships in India. Post inauguration of second showroom in Hyderabad, Vimal Sumbly, managing director of Triumph Motorcycles (India) Pvt. Ltd, stated that the British bike maker shall unveil showroom in each of the four southern states before expanding to other parts of the country. The company intends on covering 90% of premium bike segment in India.
Shoeb Farooq, national head of sales and dealer development at Triumph Motorcycles India, said in a statement, “The strategy is to align our presence across all strategic locations where we are assured to gain competitive advantage and generate strong brand eminence, and Hyderabad is a key market in that respect”. Triumph Motorcycles have their first showroom in the Bangalore city and have ventured into the Indian market with around 10 models.
As per sources the British bike maker has hinted on their plan to open dealerships in major cities like Chennai, Kochi, Mumbai, Pune, Ahmedabad, Delhi and Kolkata. The current lot of premium bike makers including Harley Davidson are Ducati Motor Holding SpA, Bayerische Motoren Werke AG (BMW), Suzuki Motor Corp. and Honda Motor Co. Ltd that have been reportedly fairing smoothly in India. As per the British bike maker Triumph, the Indian premium bike market is valued at about Rs.450 crore with annual sales of about 3,000 units.
Four of the models built by Triumph are imported as completely built units (CBUs), attracting 112% duty, and six models are brought in as completely knocked down (CKD) units and assembled at a facility in Manesar in Harayana, attracting 28-33% duty. Adding on to new showrooms, Sumbly said that the brand has received over 100 advance bookings prior to its inauguration in Hyderabad and Bangalore. Figures for inquise buyers elsewhere have not been reported by the company. Moreover, the maker of Rocket III Roadster, Bonneville and Tiger Explorer aims to sell 500 bikes over the next six months, and may take it to 1,000 units in 2015 and 1,500 units the year later. The premium bikes from Triumph are expected to be offered at Rs.5.9 Lakh to Rs.24.5 Lakh.
