Polaris India, the fully owned subsidiary of Polaris Industries Inc, a global leader in off-road and all-terrain vehicles (ATVs), is planning to assemble its iconic brand, Indian Motorcycle, in India.
The company is planning to set up an assembly plant for Indian Motorcycle, which is a legendary American brand. The company is working out strategies on the location aspect and the assembling plant is likely to be set up by 2018.
“We are considering an assembly plant in India as part of our long-term plan. We are looking at a time horizon of about three to five years to set up an assembling plant in India,” Pankaj Dubey, MD, Polaris India said after opening its fourth dealership in Hyderabad after Delhi NCR, Bengaluru and Chennai.
Besides, the company is expanding its dealership and Polaris experience zones. “We are planning for two more showrooms one each in Mumbai and Ahmedabad. By end of next year, we will have about 12 showrooms in the country,” he added. Polaris India brought the entire Indian Motorcycle’s Chief range – Indian Chief Classic, Indian Chief Vintage, Indian Chieftain and Indian Chief Dark Horse to India.
The Indian Scout and Indian Roadmaster are also available in India. These bikes are priced in the range between R12 lakh and R35 lakh.
He said that there is an increased interest towards premium priced motorcycles from elite customers.
The company sold about 100 units in 2007 which has now moved upto 10,000 units in the country, which explains the demand. In the Scout range, the company claims to have a 10% marketshare. “At present, we do not have any competitors for Indian Motorcycles. With this demand, we are seeing a 25% to 30% growth in revenues,” he added. The company’s key markets include North America, Europe and Australia. However, the company is expanding its base in India as the market is picking up in India and China as well. In India, the southern market contributes to one-third of its total revenues.