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Motorcycle Market in India attracts new foreign entrants

Motorcycle Market in India attracts new foreign entrants

Companies in India sold 9.02 million motorcycles in the financial year ended March 31 2011, a growth rate of  of 23%, but 42% of those comprised motorcycles with small engine capacities of up to 0.125 liters.  For years Enfield’s Bullet ruled the performance motorcycle world in India with no rivals. It was also popular in rural India, due to its ruggedness on unpaved or poorly maintained roads.

In recent years Harley-Davidson Inc.,  Yamaha Motor Co.  Suzuki Motor Corp. and Ducati Motor Holding SpA, have started selling  higher-end motorcycles in the world’s second-fastest growing major economy.

UK’s Triumph Motorcycles Ltd. is the latest entrant,it plans to start selling its motorcycles in India from 2012. The maker of the Daytona 675, Sprint and Rocket III motorcycle models plans to sell its products by importing them as fully built units.

“India is a very important motorcycle market and Triumph has assessed it carefully before deciding to step in,” said Nick Bloor, Triumph’s chief executive. “We see it as the next step in our global business model.” Triumph has appointed Ashish Joshi, the former head of European operations for Indian motorcycle maker Royal Enfield as its managing director for India.

A few months ago Victory Motorcycles, the Minnesota bike manufacturing subsidiary of Polaris also announced that it will enter the premium market with its cruisers next year. The company manufactures luxury touring bikes, classic-styled motorcycles and powerful inter-state cruisers, among several others.

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