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Triumph Motorcycles today expanded its Bonneville range in India by launching its all-new superbike 'T100', priced at Rs 7.78 lakh (ex-showroom Delhi).
The British luxury superbike maker said it would add 11 more dealers in next four years, taking its count to 25 to expand its sales network as it is aiming to be a market leader in the 500cc segment.
Triumph, which presently has one-third market share in Rs 5 lakh above 500cc bikes, is aiming to be the leading player in the segment in the next four years.
"We are going to be number one premium and lifestyle brand in India and that's our aim," Triumph Motorcycles India Managing Director Vimal Sumbly told reporters here.
He further said: "Last year, we had 26 per cent market share in the category which we operate and this year we are having 29 per cent market share in April-September. This is almost one-third of the market."
The present market size of over 500cc plus motorcycle is around 10,000 per year. However, over Rs 5 lakh category, where Triumph operates, the market size is around 4,000 unit.
Triumph competes with brands like Harley Davidson, Ducati, Kawasaki and Suzuki in the top-end segment.
Its portfolio spans across superbike categories of classics, cruisers, roadsters, adventure and super-sports.
"Overall segment from last year to this year has grown by 5 per cent. In April-September, 500cc plus has grown by 5 per cent and Triumph has grown by 12 per cent," he added.
On network expansion, he said: "We should be 25 dealership by 2020. We are opening our 14th dealership in Delhi by November."
Triumph will expand at Goa, Odisha and some major tier II cities, he added.
Following the launch of the T100, Triumph now has a range of 16 motorcycles in India.
In order to make the superbikes affordable and expand its reach, Triumph has also tied up with financial institutions such as HDFC.
"We are also going to provide finance options to make the superbikes more affordable. We have tied up with HDFC Bank for five and seven year finance options. Now with Rs 8,000 EMI you can own a bike," he added.
According to Sumbly, India is a large and growing market for classic motorcycles.
"The GDP of the country is growing. Number of HNIs are increasing... Indians are also now becoming global now," he said.
The company, which ventured into India in 2013, has sold over 3,300 units so far.
"We are selling over 100 motorcycle a month and this is growing further," Sumbly said.
The company has a completely knocked down (CKD) plant at Manesar, Haryana.
"We have 35 to 40 per cent CKD models in India," he said.
Established in 1902, Triumph has a network of 750 dealers in 54 countries and builds 60,000 motorcycle every year.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)