Triumph Motorcycles has a strong product portfolio for the Indian market in the next six months with nine new bike models, including some special editions, slated to be launched as the British luxury bike manufacturer looks to cement its position in the niche space said one of the company’s senior executives. Triumph India hopes to grow 20-25 percent in the current fiscal year, although it may see near-steady sales growth in the 2020 calendar due to a lack of business activity in the first months of the pandemic. Victory comes after the July and June fiscal year.
Triumph India has 16 motorcycles in its portfolio that range from modern classic motorcycles to adventure motorcycles, including the iconic Rocket 3R and recently launched Rocket 3GT.
“We are planning to launch nine new models from January to June, which will include some special editions in our current product range. This will be the first time that we have added special editions to our product portfolio here. And of course, some products,” said Schweb Farouk, Commercial Director of Triumph Motorcycles India, For PTI in an interaction, current updates will also take place with regular update.
Motorcycle models include the new Trident 660 and Tiger 850 Sport, which will add volumes to the company’s overall sales, he said, adding that the company will target a whole new segment of the industry.
The overall luxury motorcycle sector has declined by about 35-38 percent in the past 12 months, in line with the rest of the industry, he said, adding that people generally tend to put off luxury product-buying decisions when the economy slows down.
“But despite the downturn in the industry, Triumph as a brand has performed well. In the past six to seven months, including the period of the pandemic, we have achieved roughly the same volumes as last year. In fact, we started as of July, volumes have already grown by a percentage of 12 percent, which is very positive, and outpacing the industry and increasing our market share has really pushed us to a very good start after the pandemic. ”
Premium motorcycle space remains a niche segment of the total two-wheel-drive space, with sales of watches 500cc and above around 20,000 units per year, which is not that large but is growing exponentially rapidly.
Triumph expects decent growth of around 20-25 percent in this fiscal year (July 2020 – June 2021) and given that volumes through November have grown 12 percent, the company should be able to reach 20-25 percent growth forecast for this year. Finance, he said
He added, “However, given that we lost two months in this calendar year, we should be fairly stable in this calendar year (2020).”
The availability of the BS 6 models and their subsequent launch from January to February onwards, non-stop even during the shutdown, combined with strong product offerings, helped Triumph achieve that growth, he said.
Triumph Bonneville T120
In addition to launching the new Street Triple RS sports car in April, Triumph has also launched the Street Triple R, new Tiger 900 and RGT, the Rocket 3R touring variant, so far this year.
He said Triumph has iconic and pioneering positions in some sectors such as the adventure space within the premium class, representing all types of motorcycles, from adventure to urban roadsters and modern classics.
” And in the long term, our strategy is also very clear, how do we want to move forward in India through our association with Bajaj Auto, where there is a whole new set of It is through that partnership that you will then begin to tackle a new industry, a new group of customers and a much larger set of customers in India,” said Farouk.
Triumph has a very clear roadmap for India. Farooq added that the company is very clear that India is an important market for the brand and has its long-term strategy.