Triumph Motorcycles India Accelerates Sales Target for 350cc Bikes
Triumph Motorcycles India has set an ambitious goal to sell 1 lakh units of its sub-400 cc motorcycles within the next 15 months. This marks a significant acceleration from the 30 months it took to achieve the first 1 lakh sales milestone. As the largest UK-owned motorcycle manufacturer with a heritage dating back to 1902, Triumph is leveraging its strategic alliance with Bajaj Auto to boost its presence in the Indian market.
Strategic Alliance and New Product Launch
In 2023, Triumph entered into a non-equity alliance with Bajaj Auto, focusing on manufacturing motorcycles ranging from 200cc to 750cc in India. This partnership combines British engineering expertise with Indian manufacturing efficiency. On Monday, the company launched a new range of six 350cc bikes, including the Speed 350, Scrambler 350 X, and Thruxton 350. Manik Nangia, president of Bajaj Auto Ltd-Probiking, which handles Triumph and KTM, highlighted that this launch is designed to capitalize on lower GST tax rates and offer competitive pricing starting below Rs 2 lakh.
Expanding Network and Market Strategy
Nangia noted that when Triumph was relaunched in partnership with Bajaj Auto, there were only 13-14 showrooms across India. Today, the network has expanded to 230 sales and service outlets covering nearly 200 cities. The company aims to increase these touchpoints to 400 by the end of the current fiscal year. This rapid expansion is part of a broader strategy to enhance accessibility and drive sales growth.
Engine Recalibration and Pricing Advantage
Bajaj Auto Probiking, responsible for manufacturing and distributing Triumph's 400cc bikes, has recalibrated the engines of the entire range to 350cc. This move allows the company to benefit from the lower 18% GST slab applicable to bikes up to 350cc, compared to higher rates for larger engines. As a result, Triumph has reduced the prices of its bikes by Rs 10,000 to Rs 21,600, without compromising significantly on performance. This pricing strategy is expected to attract more customers and boost sales volume.
Global and Domestic Manufacturing Operations
While the 350cc bikes are produced for the Indian market, Triumph continues to manufacture 400cc bikes at its Chakan plant for global distribution. Additionally, higher-capacity motorcycles ranging from 660cc to 2,500cc are imported to India in Completely Built Unit (CBU) and Completely Knocked Down (CKD) forms, marketed by Probiking. This dual approach ensures that Triumph caters to both domestic demand and international markets, maintaining its global brand presence.
The company's aggressive sales target reflects its confidence in the Indian motorcycle market and the effectiveness of its strategic initiatives. With competitive pricing, an expanding network, and a focus on leveraging tax benefits, Triumph is poised to achieve rapid growth in the coming months.
