British iconic brand Triumph Motorcycles sees double digit growth continuing and by 2020 it aims to get numero uno position in the 500cc plus category segment.
“Now India has truly become a matured market and superbike lovers want global products. While superbike segment 500cc plus category has grown 5 per cent from April 2015 to September 2016, we have grown 12 per cent in the same period,” said Triumph Motorcycles India Managing Director Triumph Motorcycles India Managing Director Vimal Sumbly while talking to The Pioneer.
The present market size of over 500cc plus motorcycle is around 10,000 per year. However, over `5 lakh category, where Triumph operates, the market size is around 4,000 unit.
The premium motorcycle segment is led by Harley-Davidson, followed by Benelli and Italian bike maker Ducati. Other manufacturers like Kawasaki, Honda, Yamaha, Moto Guzzi, Aprilia, Indian Motorcycle among others have also been contributing to the segment.
“We expect the domestic superbike market to double in terms of sales by the end of the decade and accordingly we plans to introduce new and improved products over the coming years. So, by 2020 we will have a numero uno position in the 500cc plus category segment,” added Sumbly.
Triumph on Tuesday expanded its Bonneville range with the launch of the all new T100 with a starting price of `7.78 lakh (ex showroom, New Delhi).
“India is a large and growing market for classic motorcycles. With our range of new, exciting and accessible modern classics like the all new Triumph Bonneville T100, we would further strengthen our market position in the above 500cc, plus 5 lakh segment in India,” said Sumbly.
Following the launch of the T100, Triumph now has a range of 16 motorcycles in India. Post this launch Triumph hopes to sell more than 110 superbikes per month.
When asked about network expansion, Sumbly said: “We would have 25 dealership by 2020. We are opening our 14th dealership in Delhi by November and then it will be expanded to Goa, Odisha and lucknow.”
In order to make the superbikes affordable and expand its reach, Triumph has also tied up with financial institutions such as HDFC.
“We are also going to provide finance options to make the superbikes more affordable. We have tied up with HDFC Bank for five and seven year finance options. Now with `8,000 EMI you can own a bike,” Sumbly added.