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|15th April 2015, 12:24||#1|
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Indian Big Bike Market nearly triples in 2014-15
Lifestyle motorcycling in India has gained an impetus over the past decade. A segment that was once limited to brands like Royal Enfield, has seen the advent of several new models from a variety of players. What’s more is the arrival of multiple international brands offering high displacement motorcycles either as direct imports or locally assembled offerings. While the number of lifestyle motorcycles has evidently gone up, it appears the Indian big bike market has nearly tripled in 2014-15!
As per industry sources, motorcycles displacing 500cc and above could see their sales more than double over the next 5 years and hit about 20,000 units by the year 2020. The segment has reportedly been seeing a 40-50% growth rate year-on-year.
Vimal Sumbly, MD, Triumph Motorcycles India stated that the segment rose from 450 units in 2008-09 to 3,500 units in 2013-14 i.e. a spike of around 3,050 units in just 2-3 years! Sumbly’s market expectation for 2014-15 is a whopping 9,500 units! Roy Kurian, VP-marketing and sales, Yamaha Motor India said that the superbike segment rose from 2,000 units to 3,500 units in the last fiscal and expects the numbers to hit 10,000 units soon.
Experts say around 60-65% of the market’s share lies with models that are priced around the Rs. 5 Lakh mark, including the Harley-Davidson Street 750 - that even outsold Royal Enfield’s range topping Continental GT 535. The remaining 35-40% is occupied by models at the more expensive end of the spectrum.
The segment is currently dominated by Royal Enfield and Harley-Davidson. Comparisons are often drawn between the two brands, despite the fact that Royal Enfield’s most expensive offering still costs half as much as Harley-Davidson’s cheapest. Many believe that Royal Enfield is a first choice for first time premium bike buyers in India, primarily because of its familiarity and fan following. The brand has been offering high displacement motorcycles (by Indian market standards) for decades, while other home grown players still hover around the 200-250cc mark.
Given the exponential growth rate, more brands have targeted India and have started sowing the seeds with the expectation of positive future growth. Harley-Davidson, Triumph, DSK-Hyosung, DSK-Benelli, BMW-Motorrad, Ducati, Aprilia, Kawasaki, Indian and Moto Guzzi are among the brands that deal exclusively in premium motorcycles. Brands like Yamaha, Suzuki and Honda also partake in the premium motorcycle segment, but have their primary presence in commuter model segments.
While more international automakers enter the fray, Indian players like TVS, Bajaj and Hero are also moving up the displacement chain while forming associations with global players such as BMW, KTM and Erik Buell Racing.
Superbikes haven’t seen the same growth as premium cars, but that can be largely attributed to their limited everyday utility. However, given the growth trajectory and number of players entering the market, it might be safe to say that the future for premium motorcycle buyers will be filled with more brands, more options and most importantly - more competition!
Source: ET Auto
Last edited by Tushar : 15th April 2015 at 12:35.
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