England-based premium motorcycle manufacturer Triumph plans to double its sales in India. This year the manufacturer had witnessed marginal growth, against the industry's high single digit growth.
In the first quarter, the company was able to sell 275 units against 271 in the year-ago period. It entered the Indian market in November 2013 and sold about 3,300 units till now. Last year, it sold about 1,200 units.
Vimal Sumbly, Managing Director of Triumph Motorcycles told, "In the first half of this year, that is between April and September period, we sold about 659 units. We hope to sell around 1,300-1,400 units this year."
Now, the company has 16 models in its product lineup, which sells across various categories, he said, adding a few models were assembled at its Manesar plant.
"We are assembling some of our models. About 40 percent is CKD (Completely Knocked Down) units. We have enough capacity there. Our plan is to increase the models in the Classic series. That is the plan," he added.
The company has 14 dealerships across India and about 55 percent of the vehicles sold in the country are financed through banks.
He said, "Our plan is to increase the dealership to 25 by 2020." He also said that currently some of the products are sourced from U.K and Thailand.
The latest addition to company's product lineup in India was the Bonneville T100 priced at Rs 7-8 lakh with an EMI of Rs 8,500- 9,000.
The company has manufacturing facilities in the United Kingdom, Thailand and assembly units in Brazil and India.