Triumph eyes 15% market share in India in superbike category

The company today launched the 1,700-cc cruiser bike Thunderbird LT, at Rs 15.75 lakh

UK-based Triumph Motorcycles is targeting 15% market share in the 500cc and above bike category in India as it aims to sell 1,500 units this year.

The company, which today expanded product portfolio here with the launch of 1,700-cc cruiser bike Thunderbird LT, at Rs 15.75 lakh (ex-showroom Delhi), expects the market for 500cc and above to grow to 10,000 units in 2014.

"We are looking at 15% market share in the 500-cc and above bike category. It comes out to be 1,500 units as the overall market is expected to touch 10,000 units by the end of 2014," Triumph Motorcycles Managing Director Vimal Sumbly told reporters here.

The company, which entered Indian market last year with 10 models, expanded its product range to 12 models with the launch of Thunderbird LT.

Triumph has so far sold 835 units in the country since it started selling models ten months ago.

"With this addition Triumph Motorcycles will now offer three motorcycles for consumers interested in the cruiser segment," Sumbly said.

The company, which sells bikes in the range of Rs 6-21 lakh, is also looking to expand sales network in the country.

"We have eight dealerships currently. Two more at Chandigarh and Kolkata will open by mid-October followed by Jaipur and Indore by the end of this year," Sumbly said.

The company aims to have 13 dealerships in the country by the end of FY 15.

Triumph Motorcycles, which is present in India via a wholly-owned subsidiary, also plans to open dealership in Nepal next year as it expects the market for super bikes to grow in the neighbouring country.

"We plan to open a dealership in Nepal before March next year. We expect to sell 100-125 units in the market starting next year," Sumbly said.

The company, which currently assembles seven out of 12 models it sells in the country, is also looking to increase the number of assembled models to 9 by the end of next year.

"We will look to further enhance the locally assembled models to 8-9 by next year as we always like to pass on the benefit to the customer," Sumbly said.

However, Thunderbird LT will come as a completely built unit (CBU), he added.

Triumph is the largest British motorcycle manufacturer and has more than 740 dealers across the world.