Triumph Motorcycles India Eyes 10 Percent Growth
Triumph Motorcycles India, a subsidiary of Triumph Motorcycles, has about 5,000 customers since it entered India in 2014.
Triumph Bonneville Speedmaster. (Photo Courtesy: Kingdom Creative)
British iconic motorcycle brand Triumph is eyeing 10 percent rise in sales in India during the next financial year, a top official said. Triumph Motorcycles India, a subsidiary of Triumph Motorcycles, has about 5,000 customers since it entered India in 2014. The company follows July-June as a financial year and expects to sell 1,300 units by May, Triumph Motorcycles India managing director Vimal Sumbly said here.
"We are expecting to sell around 1,300 units. For the next financial '18-'19, we are looking at 10 percent growth" he said. Sumbly and senior company officials were here for unveiling new-generation classic cruiser 1200cc Bonneville Speedmaster priced at Rs 11.11 lakh (ex-showroom Chennai).
The company currently has 15 outlets across the country and would be opening the 16th in Mangaluru later this week, he said. Responding to a query, he said, in the last four years, the overall motorcycle sales grew by two percent while Triumph Motorcycles posted 63 percent growth with the majority of sales contributing from Classic range.
The company has tied up with private sector HDFC Bank to offer financial schemes which cover 75 percent of the customers. Stating that the company would be rolling out various new models in the next financial year, he said 90 percent of the motorcycles were "assembled" at the company's factory in Manesar, Haryana.
The company has several models with prices ranging from Rs 7.05 lakh to Rs 23 lakh (ex-showroom Chennai), he added. To a query, Sumbly said, the company plans to have 25 retail outlets in next two-three years across the country.
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