The company said it is considering both direct import of motorcycles as well as an assembly option for its foray into the Indian market.
Triumphs range of superbikes extends from 675 cc to 1,300 cc. From the iconic Bonneville of the 1960s, they include the 2.3-litre Rocket III, the Speed Triple, the Daytona 675 supersport machine and the recently launched Tiger 800.
Prices of existing superbikes in India range from R4 lakh to as high as R40 lakh. Although Triumph has not specified the prices of its bikes in India, the entry-level Bonneville would cost, in the UK, 6,150 pounds (around R4.4 lakh), while the top-end Rocket III sells for 12,649 pounds (around R9 lakh).
Our motorcycles will go on sale from 2012. We will be setting up a 100% subsidiary in the country and establish distribution network with dealers in all major metros, said a spokesperson of the company from the UK.
He added that the company is considering the option of sending motorcycles in completely knocked down (CKD) form to India and assemble them locally here, since direct imports would attract high duties. This, however, has not been finalised yet, he said.
Meanwhile, Triumph has appointed Ashish Joshi as its managing director for India. Prior to joining Triumph, Joshi was heading the European operations for Royal Enfield and established the companys business in Europe. He has over 16 years of experience in Asia and Europe.
Nick Bloor, chief executive officer, Triumph Motorcycles, UK, said, India is a very important motorcycle market and Triumph has assessed it carefully before deciding to step in. We see it as the next step in our global business model.
Triumph has manufacturing facilities in Hinckley, Leicestershire and Chonburi, Thailand. The company produces around 50,000 bikes per year and employs around 1,200 personnel worldwide. It has offices in the UK, the US, France, Germany, Italy, Japan, Sweden and Benelux, besides a network of independent distributors.