Firefox Bikes today introduced a new high-end mountain bicycle, SuperFly Comp, priced at Rs 2.35 lakh, which is even costlier than a few car models available in India.
The premium bicycle is a part of Gary Fisher collection by Trek Bikes, which are imported and sold in India by Firefox Bikes. Along with this, the company launched another product, SuperFly AL, for Rs 1.45 lakh.
"This range of bikes are iconic and are Gary Fisher's vision and creativity, combined with Trek's engineering excellence. In India, we see a class of people, who want to own such products," Firefox Bikes Managing Director Shiv Inder Singh told reporters here.
Targeting the youth, the company is aiming to sell about 3,000 units of the two bicycles, he added.
Compared to the Firefox's these two new bicycles, a consumer will have to spend lesser amount to possess a car like Tata Motors' Nano and Maruti Suzuki India's M800.
While a Nano is available between Rs 1.42 lakh and Rs 2 lakh, the M800 starts at Rs 2.08 lakh and goes up to Rs 2.33 lakh depending upon various specifications. All the prices are according to the car makers' official websites and are for ex-showroom, Delhi.
Talking about Firefox Bikes' sales expectations, Singh said: "This fiscal we are aiming to sell 50,000 units, which will be a jump of 50% over the last fiscal. Our target is to sell 1 lakh units by 2015."
The company is targetting a sales revenue of about Rs 110 crore by 2015 from an expected Rs 50 crore in FY'13, he added.
Accordingly, the company is also planning to expand its reach to up to 200 outlets by 2015 from 100 sales point currently, Singh said.
Earlier, Firefox Bikes had said it would introduce a folding bicycle by the end of this year as it looked to expand its presence in the high-end segment.
The company would import the bicycle -- Tern -- from Taiwan and will launch it in November this year. At present the firm sells one folding bicycle model under its own brand.
Singh had said Firefox Bikes was planning to introduce bicycle racks, which are mounted on a car's top. It had tied up with the US-base Saris.
The company, which currently sells about 70 bicycle models under Firefox and Trek brands, import all its products.
Firefox has a manufacturing facility in Sri Lanka that are imported into India. The Trek products are imported from China and the US.
While the Firefox range is priced between Rs 4,000 and Rs 18,000, the Trek's bicycles are priced at Rs 20,000-85,000.