Polaris India, a 100 per cent subsidiary of the US-based Polaris Industries Inc, on Wednesday launched the iconic 'Indian' motorcycle brand in India.
The company launched three models — Indian Chief Classic, Chief Vintage and Chieftain — priced at Rs 26.5 lakh, Rs 29.5 lakh and Rs 33 lakh (ex-showroom, Delhi), respectively, all powered by 1,811cc engines.
Polaris is targeting to sell 28 units by the end of this year and achieve a market share of around 10 per cent in the luxury motorcycle (1,600cc and above) market in India in the first year, Pankaj Dubey, Managing Director, Polaris India, told reporters here. He said the premium motorcycles’ market in India was around 200 bikes in 2012 and is expected to grow by 40-50 per cent in the next few years.
“Reviving the legend with a new heart but its same soul, Polaris India has ended the long wait for Indian motorcycle enthusiasts with this launch. We expect the customers will enjoy the new experience,” Dubey said.
The company that sells off-the-road vehicles including all-terrain vehicles in India will sell these motorcycles from Delhi and a second showroom in Bangalore, Dubey said.
Other dealers would soon follow in major cities, he added.
The company has started bookings of the motorcycles that are all completely built units (CBUs) and will be delivered by March to the customers.
As these bikes are CBUs, the customers will also pay 12.5 per cent value-added tax and 12.5 per cent counter veiling duty.
>ronendrasingh.s@thehindu.co.in
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