Triumph Motorcycles India aims to increase market share to 25% in 12 months
British premium motorcycle brand Triumph is bullish on the prospects offered by the niche two-wheeler segment in India over the next one year, a period during which the company aims at boosting its market share to 25 per cent from 22 per cent at present, a senior official said on Friday.
Triumph Motorcycles India has seen a growth of 30 per cent in the last 12 months, with sales of “a little over” 1,200 units, he 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,” Business Head Shoeb Farooq told PTI.
The company, which set foot in India nine years ago, has a presence in the 500 cc and above motorcycle segment at a starting price of over Rs 5 lakh.
Farooq said growth in the premium segment has been slower than expected in the last few years, with the COVID-19 pandemic denting sales.
“The positive news that is coming out is that the industry segment just below ours (the 250-500 cc 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 500 cc and above from here on,” he said.
Motorcycles having engine capacity of more than 500 cc offer much more value for money, he said on the sidelines of the launch of a dealership in Kolkata.
Farooq said Triumph, which has 14 exclusive stores in India, passed a portion of the rising commodity and logistics costs to customers in the last six months, effecting a price hike of around 2 per cent across categories.
“There is likely to be a marginal rise in prices in August, too, though the exact amount is yet to be decided,” he added.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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