Triumph Motorcycles plans to introduce 6 new models in India
British Superbike brand Triumph Motorcycles plans to introduce in India around six products, a mix of new models and upgrades of current bikes, by June next year, a top company official said Tuesday.
The company, which sells superbikes priced between Rs 7.7-22 lakh in the country, also aims to expand its sales network from the current 16 dealerships to 25 over the next 3-4 years with an aim to reach smaller towns as well.
Triumph Motorcycles (India), which follows July-June financial year, sells 13 models, including variants, in the Indian market. It gets 65-70 percent of its sales from top 20 cities of the country although its customer footprint spreads across 400 cities and towns across India.
"In the last five years, the premium motorcycle segment (500 cc and upwards) has been growing at a CAGR of 20 per cent as compared to around 6-7 per cent for the normal two-wheelers. For Triumph, the growth has been at 47 per cent in the last five years," he added.
"We (Triumph) should be doing not less than 2,000 units per year," he added.
On the potential for growth from smaller cities and towns, he said:"Today, Triumph has customer footprints in 400 cities and towns across India but around 60 per cent of the sales comes from the top 20 cities.
"When we have 25 dealerships in another three to four years, the contribution from the tier II towns are going to grow much higher. We are looking at smarter ways to address customer requirements in these places," he added.
When asked if the company would also look to enter the fast growing 250-500 cc segment, Farooq said the company's focus in the near future would be the premium segment.