Triumph and Indian Motorcycles — the bike manufacturers known for their big, powerful cruiser machines — seem to have shaken off the demonetisation blues faster than the mass-market players, which still find the going tough in the local market.
UK’s Triumph and US-based Indian posted strong double-digit growth in India since December, in an otherwise lacklustre fiscal year for the segment, with company executives citing recent expansions into more cities and easy availability of finance ..
But the market is expanding fast and offers big potential for companies providing niche products such as this bunch, as India’s list of millionaires is growing at a quick pace, with a number of young people who are ready to splurge on the best of luxury getting on to it. The entry-level products that these companies sell in India cost as much as some sedans and, at the top end, their bikes are as expensive as some premium luxury cars.
Triumph sold 300-350 motorcycles at the retail level ..
Triumph, the second largest player in the segment of 500cc-plus bikes, is aiming for double-digit growth in fiscal 2018 as well, with a target of selling more than 1,300 units. It is estimated to have sold 1,150 units in the fiscal year that just ended. Indian Motorcycles saw robust demand in the January-March quarter. Pankaj Dubey, managing director of Polaris India that sells the bikes, said those who previously wanted to pay in hard cash to buy premium motorcycles now prefer cheque and are al ..
“It is much easier and transparent business post demonetisation,” Dubey said. As against normal growth of about 8-10 per cent in the premium bike category, Indian witnessed an expansion of 15% in the last quarter of fiscal 2017, Dubey said. He, however, wouldn’t reveal the company’s sales numbers. Harley-Davidson, the leader in the cult bike market, didn’t share its sales numbers in India.