Triumph Motorcycles expects 25% sales growth in fiscal 20171 min read . Updated: 06 Jun 2016, 04:27 PM IST
Triumph Motorcycles India MD Vimal Sumbly says the firm will not become a mass brand by reducing prices or downsizing engines below 500cc
Mumbai: British superbike maker Triumph Motorcycles Ltd is expecting to clock 20-25% sales growth in the country in 2017, over the 3,000 units it sold in the past 30 months.
Last fiscal, the superbike segment in India posted a 2.85% volume growth at 10,234 units, from 9,940 units in 2014-15.
The mass volume market too grew at 2.7% to 1,89,37,104 units. At 3,000 units, Triumph comes second in the domestic superbike market after the American cruise bike maker Harley Davidson, which sold around 5,000 units.
“Considering our high base we have achieved last year at 3,000 units, we are confident of further building on to our sales momentum and hope to clip at 20-25% this year. But to increase volume, we will not become a mass brand by reducing the prices or downsizing our engines below 500cc. We want to be a niche player only," Triumph Motorcycles India managing director Vimal Sumbly told PTI.
He was in Mumbai to launch Triumph’s latest classic model Thruxton R, priced at ₹ 10.9 lakh (ex-showroom Delhi), powered by a 1,200cc engine. It is one of the three models in its new Bonneville family available in the country.
According to industry reports, the superbike market clipped at 91% compound annual growth rate between fiscal 2012 and fiscal 2016, from 773 units to 10,224 units.
With rising incomes and a growing biking culture, the market underwent a dramatic shift in 2015-16 with the volumes massively shifting in favour of above 500cc or ₹ 5 lakh-plus models.
In 2014-15, out of the 9,940 units sold, almost 65% or 5,828 units were under 500cc models. In 2015-16, the trend reversed as 6,342 of the 10,224 units were above 500cc models, said Sumbly.
The domestic superbike space is led by Harley Davidson with close to 5,000 units, followed by the Italian Benelli at over 2,400 units, the Italian Ducati at 600 units and the Japanese Kawasaki selling over 100 units a year.
Japanese firms Honda, Suzuki and Yahama are also present in the market. Others include BMW Motorrad, Moto Guzzi, Aprilia Piaggio, Indian Motorcycle from the US, UM International, Hyosung from Korea, Regal Raptor from China and KTM.