Indian expands bike segment presence

Launches Roadmaster and Chief Dark Horse

Polaris Industries-owned Indian, the cult American cruiser motorcycle brand, has announced plans to extend its segment presence by unveiling new products, enabling it to stretch its volume share in an already burgeoning space.

Towards this, it rolled out the luxurious Indian Roadmaster (Rs 34.95 lakh) and Chief Dark Horse (Rs 21.99 lakh) on Thursday, hoping to bring in newer models to India in future.

Last year, Indian Motorcycle achieved the sales target it had set itself, lapping up 10 per cent of the segment occupied by bikes in the 1,400 cc and above and priced above Rs 20 lakh. During the same period, the said segment saw sales to the tune of 200 units, across different brands and models. Overall, the premium motorcycle category in which Indian operates has enjoyed sales of around 1,000 units.

In a bid to extend its segment presence, and expand its stable, the company recently launched the 1,200 cc Indian Scout in India, priced upwards of Rs 12 lakh. With this launch, Indian is also operating in that part of the premium segment occupied by 1,200 cc bikes and priced above Rs 10 lakh, which will ensure that a greater spectrum of the premium market can be harnessed.

“We will constantly add investment towards bringing more motorcycles in India fostering greater accessibility for more customers in this market,” Polaris Industries Chairman and Chief Executive Officer Scott Wine said.

The premium motorcycle segment is growing considerably, with an expected CAGR of over 25 year-on-year, over the next five years. According to Pankaj Dubey, the managing director for Polaris India, the company is geared up to grow higher than the segment, while maintaining its growth momentum.

“In the next three months, we would have opened five new dealerships in most of the Metro A cities — Bengaluru, Chennai, Hyderabad, Mumbai, and Ahmedabad. Our premium products are specifically designed for HNI customers with passion for riding, and we will move our portfolio in that direction,” Dubey said.

The company has added a new dealership to its existing one at Gurgaon, opening a new outlet at Bengaluru on Thursday. “The plan is to penetrate and be present in around 12 cities by the end of next year,” Dubey said.