Triumph Motorcycles India has seen 30% growth over the past 12 months with sales of over 1,200 units.
British premium motorcycle brand Triumph is optimistic about the prospects for India’s niche two-wheeler segment over the next year, a period in which the company aims to increase its market share to 25 % compared to 22% currently, a senior official said on Friday.
Triumph Motorcycles India has seen 30% growth in the past 12 months, with sales of “just over” 1,200 units, he said.
“We are currently in a healthy position and expect to see 25-30% growth over the next year, selling around 1,500 units,” company manager Shoeb Farooq told PTI.
The company, which set foot in India nine years ago, has a presence in the 500cc and above motorcycle segment with a starting price of over Rs 5 lakh.
Farooq said growth in the premium segment has been slower than expected in recent years as the COVID-19 pandemic weighed on sales.
“The good news coming out is that the segment of the industry just below ours (the 250-500cc class) is doing quite well, seeing sales of over 100,000 bikes a year…it’s a good news for us as consumers are likely to move to the next segment of 500cc and above from now on,” he said.
Motorcycles with a displacement of more than 500 cc offer much better value for money, he said on the sidelines of a dealership launch in Calcutta.
Farooq said Triumph, which has 14 exclusive stores in India, has passed on some of the higher commodity and logistics costs to customers over the past six months, driving prices up around $2. % in all categories.
“There will likely be a marginal price increase in August as well, although the exact amount remains to be determined,” he added.
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