Bajaj Auto plans to expand the product line up and bolster sales network under the Triumph brand to consolidate its position in the robustly growing domestic mid-size motorcycle segment, according to a senior company executive.
The Pune-based firm, which has a global partnership with British motorcycle brand Triumph, on September 17 unveiled two 400-cc bikes, Speed T4 and Speed 400, priced at Rs 2.17 lakh and Rs 2.4 lakh respectively (ex-showroom Delhi).
In an interaction with PTI, Bajaj Auto President of Pro Biking Business Unit Sumeet Narang said that having established the Triumph brand in the last year, the focus would now be to expand operations further.
"By the end of this year we plan to expand our sales network to around 170 outlets and next year we plan to take it beyond 200 dealerships," he stated.
The focus would be to expand in smaller cities and towns as well, Narang said.
"There are opportunities also in metros at the same time because as the market grows, you will get into larger suburbs of metros as well. But now, having built that foundation of our network, from here, the growth is going to be very rapid in terms of further town penetration," he noted.
Narang further said: "So we're looking at a very rapid growth in coverage over the next about 18 to 24 months." The company has a presence in more than 75 cities with over 120 dealerships.
When asked about new model launches, Narang said: "We should be looking at getting more models within the next year. And we do need all these models, because we have, you know, our dealers have invested, and we have created exclusive prime showrooms based on the global format." Triumph plays in the modern classics segment with price points upwards of Rs 1.7 lakh, he stated.
The brand, with its modern classics range, completes with the likes of Royal Enfield in the domestic market.
The segment is roughly about 11 percent of the total motorcycle industry but growing at twice the rate over the last three years, with almost a 30 percent CAGR, twice the rate of overall motorcycle segment, Narang said.
"We have surpassed many other players in the classic segment, and players who have been around for about four or five years to now be the number two player in terms of volumes, behind the market leader, which I think in about one year's time, is a great encouragement," he stated.
With new models, the company is confident of increasing this lead and strengthening position as a number two player, he added.
Bajaj Auto Executive Director Rakesh Sharma said the two models introduced on Tuesday blend heritage with innovation, offering both relaxed and performance-oriented riders something special.
"The Triumph and Bajaj Alliance has put out almost 60,000 bikes of the TR series to over 50 countries including India. We are delighted with the customer acceptance and the widening base of the franchise," he added.
(With PTI inputs)
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