British superbike maker Triumph Motorcycles, which today launched a new range of Tiger 800 bikes, expects India to be among the top five market for its big bikes over the next five years. Also Read - FIR filed against Twitter India again, now over child pornography content
The company has launched six new products in the current financial year and is betting big on the domestic market, taking its total portfolio to 15 out of its 27 products globally. Also Read - Mi Notebook Pro X to be Xiaomi's most expensive laptop yet, launch tomorrow
Since its entry in 2014, Triumph has sold 5,000 units, of which around 800 are Tiger bikes, which were globally launched in 2010. Also Read - Ola to offer free oxygen concentrators to the needy
“We’ve 15 subsidiaries globally and India is currently among the top 10. Over a period of time we hope India will be one among top 5 and in the big bikes segment, we hope India to be in top over the four to five years,” Triumph Motorcycles India managing director Vimal Sumbly told PTI here.
He said, going forward, the company will further strengthen its portfolio here by having 18-19 products in the next six to eight months. Two of the new launches will happen by end June, he added.
Today Sumbly announced the launch of a new range of Tiger bikes priced between Rs 11.76 lakh and Rs 13.76 lakh.
These new bikes come with more than 200 upgrades to the chassis and engine, which is more responsive and optimised, he said.
He also said as part of its India play, they will be ramping up dealership network by adding up to another 10 over the next three years. “This year alone, will add three more dealers, Goa, Mangalore and probably Coimbatore.” Looking at break even over the next few years, he said “you break even when you sell 1,700-2,000 units. Last year we sold 1,200 units so it would take another two to three years.” On the product strategy he further said, from being 90 per cent CBU they have become a 90 per cent CKD now.
On the recent reduction in import duty on bikes, he said the change in the duty structure is not a positive step as it makes import cheaper then assembling locally.
“Because of the new duty structure, the parent company will not allow me to invest in expanding the product portfolio. Why will you invest in setting up a facility, build infrastructure, create employment when you will have to pay a higher duty compared to a kind of trading of product which does not require any investment but attracts lower duty?” he asked.
This is published unedited from the PTI feed.