In CY2020, even as the premium motorcycle sub-segment in India saw sales drop of 40% (from about 6,500 units in 2019 to 4,000-odd units in 2020)*, sales of Triumph India motorcycles grew 12% (to about 700 units).
Shoeb Farooq, Business Head, Triumph Motorcycles India, attributes this rise to the product offensive by the company post-BS6 transition. “We had cleared our BS4 inventory in March last year, and soon after BS6 we launched the Street Triple RS, Bonneville Black and Tiger 900—some of our most important models; luckily, we were also on the right side of the product lifecycle.”
Another reason is that the company has aligned India launches with global launches. “Almost as soon as a motorcycle is launched in global markets, we make sure it’s available for Indian customers as well,” adds Farooq.
In CY2021, Triumph India expects sales of about 1,000 units, i.e. 30% growth over CY2020, in part due to the new Trident—to be launched likely next month. “The Trident will be the entry point to Triumph range of motorcycles, and help get us a new set of customers,” Farooq says.
The most expensive Triumph motorcycle in India is the Rocket 3 GT (Rs 18.9 lakh), and the most affordable is the Street Twin (Rs 7.45 lakh); the Trident will be priced even lesser. It will be in the form of a completely knocked down (CKD) kit, imported from Thailand but assembled in India.
For the last few months Harley-Davidson motorcycles weren’t available in India as the company is going through a transition phase (going forward, Hero MotoCorp will sell and service Harley-Davidson motorcycles). Some of those buyers may have shifted to Triumph. Even though Farooq says it’s a possibility, “that’s not our focus.”
“There would be some buyers who have chosen or may choose alternate brands, we are building our portfolio block by block, and trying to see what best we can do with our model range. To succeed in the long-term in this segment, you need to have intrinsic brand strength, and the ability to align to the needs of discerning customers,” Farooq adds.
*Rough estimates by analysts, as all players don’t share sales data with SIAM.
Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, Check out latest IPO News, Best Performing IPOs, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.