Triumph Motorcycles has lined up a slew of launches in the first half of 2021.
“From January onwards, we have a very busy calendar with new product launches till June. For six months, we will have very interesting product launches, including the new Trident 650cc bike which we recently revealed. We plan to position this bike below the Street Triples, which has a starting price of ₹8.9 lakh now. Our strategy is to position the new Trident at about ₹7.5 lakh range,” Shoeb Farooq, Business Head, Triumph Motorcycle India, told BusinessLine.
New offering
This brings down the entry price points for urban roadsters where competition is very high and Triumph hopes to attract buyers with its new offering. “It is a new segment for us and we expect some incremental volumes here. This new Trident will come during Q1 of 2021. Also, a slew of upgrades and new products will be launched during January-June 2021,” he added.
Also read: Triumph Motorcycle India targets 25-30% sales growth this year
Meanwhile, the company is confident of achieving 20-25 per cent growth in retail sales, which will be at about 1,000 units for this year.
Farooq said a well-crafted strategy involving product tweaking and smart pricing helped the company take advantage of post-Covid demand revival scenario and post decent sales every month.
Its early migration to BS-IV helped as launch of BS-VI models started in January 2020 itself. As on April 1, it had negligible number of BS-IV stocks. Also, the company didn’t change any of its launch plans due to Covid-19. It digitally launched Street Triple RS in April and continued other launches too in the following months.
“Today, with 13 models, we have the widest range of BS-VI-compliant bikes across categories of premium segment. This helped us to pick up business right from June month. Our sales during April-September were almost same as last year’s at a time premium bike declined by about 30 per cent,” he added.
Key segments
Tweak in its key product segments, entry into cruiser segments, and easy financing schemes for its Classic range, among others also helped. Triple R, an upgrade model that has higher spec, was launched at a lower price of ₹8.8 lakh.
Also read: India, a rough ride for premium motorcycles
The company was absent in the cruiser segment, where Harley was doing well, for three years. It launched its cruiser bike Rocket 3 R at a very aggressive price of ₹18 lakh, which is reported to be lower than the price of cruiser bikes that are being sold in India. This was strengthened with another variant launch Rocket 3 GT, priced ₹40,000 more than Rocket 3R, last month.
“We hope to clock more than 100 units of Rocket range this year as against 30-40 units a year earlier,” he added.
