British luxury two-wheeler maker Triumph has set its sight to an increased market share in the niche two-wheeler segment in India in the next one year. The company is eyeing a 3 per cent rise in a year, which will take its market share to 25 per cent from 23 per cent at present.
Having sold a “little more” than 1,200 units in the last 12 months, Triumph Motorcycles India has seen a 30 per cent growth, said an official.
Shoeb Farooq, Business Head, Triumph Motorcycles India said, “We are at a healthy spot right now, and hope to clock a growth of 25-30 per cent in the next one year, selling around 1,500 units.”
Farooq said that the Covid-19 pandemic has slowed down the growth of the premium segment in the country in the last few years as the sales were affected.
“The positive news that is coming out is that the industry segment just below ours (the 250-500cc category) is doing pretty well, registering sales of over 100,000 motorcycles per annum. This is good news for us as consumers are likely to graduate to the next segment of 500cc and above from here on,” he added.
“We passed the portion of the rising commodity and logistics costs to customers in the last 6 months, effecting a price hike of around 2 per cent across all categories. There is likely to be a marginal rise in August too, though the exact amount is yet to be decided”, he concluded.
(Inputs from PTI).