Britain's Triumph Motorcycles aims to win over India's wealthy bikers
By Aradhana Aravindan
MUMBAI (Reuters) - Britain's Triumph Motorcycles will start selling its iconic bikes in India on Thursday as it seeks to capture the hearts of wealthy motor heads who ride for passion not function.
Privately held Triumph is following high-end motorcycle makers such as Harley-Davidson Inc and Volkswagen AG's Ducati in entering a market where quick-rising wealth is leading to greater demand for expensive toys.
"The best combination on the road is the bike and the road - they are the only two people who can talk to each other. I think that culture is coming up in India," Triumph India Managing Director Vimal Sumbly told Reuters in an interview on Friday.
Triumph not only has to win over customers, but also has to persuade people to buy touring bikes in a country notorious for poor roads. Its track record for infrastructure development is miserable compared with China and most other emerging economies, and its failure on this score has sapped growth.
Most Indians commute using motorcycles or scooters and it is common to see families of four or five on a single vehicle snaking through heavy traffic or even over pavements escaping jams. As the economy slows, two-wheelers comprise the only category of the auto industry to register growth this year.
Sales of motorcycles with an engine displacement of 350 cubic centimeters or less, which make up the bulk of the market, have risen about 3.5 percent so far this fiscal year, show data from the Society of Indian Automobile Manufacturers (SIAM).
Sales of more powerful bikes, including those from Harley and Eicher Motors Ltd's Royal Enfield, have doubled over the same period. Industry watchers say strong growth is likely to continue in the medium term, as consumers in the luxury segment are not as vulnerable to the impact of a slowing economy.
Still, high-end motorcycles form a miniscule portion of the Indian two-wheeler market, the world's largest by some estimates with sales of nearly 14 million bikes in the last fiscal year. Continued...