The Indian superbike market is in the midst of a boom - growing rapidly and British motorcycle brand Triumph is riding that wave of growth in India, establishing itself as a leader in the Indian superbike market. Triumph Motorcycles India has just completed three years of operations in India and has made a mark as one of the most popular premium motorcycle brands.
In the first year of operations, Triumph managed to sell just about 650 bikes, going up to selling over 1200 units each in the second and third year. In FY 16-17, estimates peg Triumph sales at close to 1500 units, and the gap between market leader Harley-Davidson and Triumph is rapidly shrinking, in the premium superbike segment at least, costing Rs 5 lakh or more.
(Triumph Street Twin)
Growth has been steady and although their products may be different, the real competitor to Triumph in the Indian market really is Harley-Davidson. And that is where Triumph India wants to be headed, right to the top of the premium two-wheeler market.
"It's been an absolute roller coaster ride. We tried to achieve what we have faster than the industry, and there have been challenges. But the results are there. Going forward, we intend to have presence in over 25 towns and cities across India very soon, and we intend to become the leading brand in the premium and luxury segment," says Vimal Sumbly, Managing Director, Triumph Motorcycles India.
According to data published by the Society for Indian Automobile Manufacturers (SIAM), in the April-October period of FY17, for superbikes costing over Rs 5 lakh, Harley-Davidson sold just over 900 bikes, followed by Triumph Motorcycles at around 750 bikes. Overall though, Harley-Davidson still leads by quite a margin, selling over 2400 bikes in the same period, thanks primarily to the very popular Street 750 model that sells at Rs 4.91 lakh (ex-showroom Delhi).
"The future outlook of the ultra-luxury two-wheeler segment in India is very positive. India's two-wheeler industry is poised to record its fastest growth in at least five years in the 2017 fiscal. With softening fuel prices and easing interest rates, fundamentals are also in place to drive the demand," says Abdul Majeed, Partner at Price Waterhouse. He adds, "Additionally, brand awareness and growing purchasing power of the upper middle class in tier II and III cities will also attribute towards an increase in sales. This segment is growing and will continue to do so with increasing aspiration and appetite for luxury."
(Triumph Thruxton R)
There are more than 3,500 Triumph customers in the country today - and Triumph boasts 14 dealerships across India (Harley-Davidson has 23), selling 16 different motorcycle models, across motorcycle categories (spanning the classics, roadsters, cruisers and supersport bikes). And the growth has come from a three-pronged strategy - keeping prices competitive by assembling bikes in India, developing the dealer network and offering experiential stores that include test rides and merchandise/apparel.
"The Indian customer is no different from any other customer in the world. In fact, expectations of the Indian customer are higher when it comes to service and after sales," says Sumbly.
(Triumph Bonneville T120)
In 2013, when Triumph set up shop in India, the superbike market was still at a nascent stage, with only one other established major player in the market - bar and shield brand Harley-Davidson. Of course, Harley-Davidson had a first mover's advantage, and an aspirational global brand identity which helped it rapidly establish itself as the market leader.
While Harley-Davidson manufactures and sells cruisers, Triumph has a more diverse range of machines on offer. From easy to ride entry-level classics, entertaining roadsters, to cruisers and even a supersport, there's a Triumph for every kind of rider.
"When we introduce a new product, it's a completely new product from the ground up, and not just a cosmetic upgrade or a new paint scheme labelling it as a new model. So, we at Triumph will continue to offer the best of brands for the Indian market with the latest technological innovations available. And that is going to be the single most defining factor for Triumph India," said Sumbly.
(Triumph Bonneville T120)
Naturally, Triumph's products have played an important role in that success, particularly the modern classic range which form bulk of the British bike maker's sales. The Bonneville, a bike with retro design, but with all the technological advancements of a modern motorcycle, is Triumph India's bestseller. After bringing a new generation of Bonnies to market, Triumph will next be revamping its roadster range - possibly with a new and upgraded Street Triple in the works. And it's heartening to know that a part of that success also comes from the rapidly growing Indian superbike market.
