Triumph Motorcycles targets 15 percent share in 500cc and above in India
Triumph Motorcycles based in UK is expected to get 15% market share in the 500cc and above bike category in India as it expects to go beyond 1,500 units of sales during the year 2014 alone.
The reputed firm, which already enhanced the product portfolio successfully in the nation with the introduction of 1,700-cc cruiser bike Thunderbird LT, at Rs 15.75 lakh (ex-showroom Delhi), opines the market for 500cc and above will increase certainly with more than 10,000 units in 2014.
“We are looking at 15% market share in the 500-cc and above bike category. It comes out to be 1,500 units as the overall market is expected to touch 10,000 units by the end of 2014,” Triumph Motorcycles Managing Director Vimal Sumbly told reporters in a brief session.
The prestigious enterprise, which opened up itself into the Indian market last year in a triumphant fashion with 10 models, broadened its bikes’ range to 12 models with the unveiling of Thunderbird LT.
Triumph has in total got rid of 835 units in the whole country since it began selling models ten months ago.
“With this addition Triumph Motorcycles will now offer three motorcycles for consumers interested in the cruiser segment,” Sumbly said.
The UK firm, which is into the bike market in the range of Rs 6-21 lakh, is even expecting to increase sales network in the country.
“We have eight dealerships currently. Two more at Chandigarh and Kolkata will open by mid-October followed by Jaipur and Indore by the end of this year,” Sumbly said.
Moreover, it expects to have offer 13 dealerships in the country by the end of FY 2015.
Triumph Motorcycles, a noted brand already in all over India through a wholly-owned subsidiary, with it planning to unleash a dealership opportunity in Nepal next year as it aims the market for super bikes to progress in the neighbourhood.
“We plan to open a dealership in Nepal before March next year. We expect to sell 100-125 units in the market starting next year,” Sumbly said.
Triumph, which actually into the assembling segment with seven out of 12 models it puts on offer for sale in the country, is also expecting to have the total number of assembled models escalated to 9 by the end of year 2015.