JOIN USBritish biking major Triumph is hopeful of increasing its market share in the Indian premium motorcycle market, aiming to operate and dominate a niche, yet popular part of the segment.
The niche segment being referred to is that category of premium motorcycles occupied by machines in the 500 cc and above, priced in the range of above Rs 5 lakh. The segment, which saw sales of 773 units in 2011-12, has now grown to sell around 3,700 units in 2014-15. This is Triumph’s playground, wherein it has clocked total retailed units to the tune of 1,500 units since it commenced sales in India.
“We dominate market share in the said segment. As a company, we have been able to retail 14 models through a chain of 10 dealerships in all top metros in India,” Triumph Motorcycles India Managing Director Vimal Sumbly told Deccan Herald. According to data from SIAM, Triumph held a small nine per cent market share in the 500 cc and above Rs 5 lakh segment during April 2013-14, which has grown to 33 per cent during April 2014-15.
“Our focus is to develop products and be close to customers in India. Our multi-pronged approach also includes good service and dealership network expansion. We have a stable spread across five categories — Classic, Supersports, Adventure, Roadster, and Cruiser. We enjoy robust share of 40 per cent sales from our Classic motorcycles,” Sumbly said.
India is a booming motorcycle market, with new-found appetite for premium bikes, which have reached around 9,120 units, across brands and segments. Competition is brewing to a new heat, and Triumph is gearing up to lead the market. “Our target is to take total sales to 1,700 units by the end of this year. By 2020, we plan to sell 2,500 units a year,” he said.
The company has noticed HNI (high net worth income) customer trends emerging from small towns as well, and plans to open dealerships there. New dealerships at Jaipur and Indore are expected in the coming months, with 2-3 more in other tier-II and tier-III towns. By 2020, Triumph hopes to be present in over 17 towns.
“We will plan new models as and when demand arises. We will be rolling out a couple more products between now and June next year,” he added, without revealing further details. Eight out of Triumph’s 14 models in India are from its CKD (completely knocked-down) route, via its assembly line at Manesar.
“We are bullish about CKDs since it has brought down the impact of import duties to 30-40 per cent, from the 100 per cent levied on CBUs (completely built units). The CKDs ensure that customers are not inconvenienced, and more people have access to our products in the market,” Sumbly concluded.