April 6, 2022
Blog Admin
Triumph eyes a 25% market in premium motorcycle segment
Triumph Motorcycles had sold about 1,200 units in 2021 in India with its market share being 22%. Now the company is expecting a growth in its market share to 25% in 2022.
British brand Triumph Motorcycles is targeting a market share of 25% in India’s premium motorcycle segment, which includes models having engine capacity of more than 500 cc and priced above Rs 5 lakh, with retail volumes of about 1,500 units in 2022.
The premium motorcycle segment was around 5,500 units last year in terms of volumes, while the market size was close to Rs 440 crore so far as sales are concerned.
“The overall segment continues to be in a nascent stage and everybody sees potential in India. You would see all the global brands now having their base in India and preparing themselves for the expected growth to come in this industry,” Shoeb Farooq, business head, Triumph Motorcycles India informed BigGaddi.com
Triumph Motorcycles offers models across three different categories — Adventure, Roadsters and Modern Classics — in India. which are available in the price range of Rs 7.45 lakh to Rs 21.40 lakh (ex-showroom). The company recently launched the new Tiger Sport 660 model priced at Rs 8.95 lakh (ex-showroom).
“In the last two-and-a-half years, our growth has been in the 25%-30% range. It has been a good 24-30 months since the whole pandemic, and even before that, we were on the right side of growth,” Farooq said.
It has an assembly plant in Manesar, Haryana. While CKD (completely knocked down) models contribute 50% to the overall volumes, the remaining sales come from CBU (completely built-up) units.
“Most of the CBU units are coming from our Thailand plant, which is Triumph Motorcycles’ biggest manufacturing plant. The CKD Kits are coming from Thailand as well,” Farooq noted.
Triumph Motorcycles currently has more than 300 pending bookings in India.
The company currently has 14 retail stores across the country & it is not planning a massive expansion immediately.