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Triumph Motorcycles India has confirmed that it is preparing to launch its 1200cc bike Triumph Tiger next month as the British premium motorcycle maker expects adventure series of bikes to do well along with Classic ranges in India.
“Next month, the 1200cc Tiger motorcycle will come into India and we already have five bookings in Chennai even without showing the bike. The new bike will be priced in the range of ₹20-25 lakh,” Vimal Sumbly, Managing Director, Triumph Motorcycles India, told BusinessLine here.
The proposed launch is expected to strengthen its offering in the Adventure segment, in which the company plans to offer four models under 800cc category and one in 1200cc category. In the Classic range, it will offer seven models including the latest addition of 2018 Bonneville Speedmaster, priced at ₹11,11,500 (ex-showroom, Chennai).
“Our growth driver for the fiscal 2018-19 will be Classic and Adventure bikes. Though Classic accounts for a significant chunk of volumes now, I see more people upgrading to adventure series bikes and combined share of both Classic and Adventure bikes in sales will be about 80 per cent,” said Sumbly. He pointed out that the premium motorcycle market in India was on the cusp of change.
“A lot of people moved from commuter car to premium and luxury cars. A similar shift will happen in the premium bike market too. Of course, the focus will be on mid-segment (below 500cc) in the short-term, but in the long-term, people will move 600cc plus bikes,” he added.
“Our fiscal year ends in June and we expect to close this fiscal with about 1,300 units. This will be a fantastic growth despite higher import duties and taxes. From FY14 to FY17, above 500cc motorcycle market grew by a CAGR of 22 per cent. But Triumph recorded 63 per cent growth according to SIAM,” he said.
Triumph will continue to focus on three-pronged strategy for the Indian market. First focus area is the assembly operations. For 95 per cent of portfolio CKD is done in India. The second area will be network expansion, it will be opening 16th outlet in Mangaluru shortly, and by 2022, it plans to have 25 outlets. The third part will see the company introducing experiential training schools, which will focus on providing experience and capabilities of Triumph products and also teach about safe riding practices.
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