The Triumph Bajaj partnership is targeting the 250-700cc motorcycle segment with jointly developed products for the Indian as well as overseas markets.
The Bajaj Triumph alliance was announced back in August last year. While the objective of this partnership is to deliver a range of new middle-weight motorcycles ranging from 250-700cc for the Indian as well as global markets, Triumph as an individual brand is focusing on the 500cc plus market in a bid to take on the market leader Harley-Davidson.
Last year 90% of Triumph’s portfolio were CBU imports but by June-end this year, the automaker aims at having 95% CKD assembly in its portfolio. The British motorcycle manufacturer clocked a retail growth of 17% in July 2017 to January 2018 period and is looking at closing the current year with sales of 1300 units (or 10-15% growth). To achieve that, the Street Triple maker has opened its 15th dealership in Gurgaon and will follow it up with two more in Mangaluru and Goa taking the total dealer network to 17.
Currently, the 250-500cc segment is being dominated by Royal Enfield followed KTM and Bajaj. The market in itself is around 8,00,000 units (per year) strong and has the potential to cross 1 million units. What made Bajaj and Triumph come together and form an alliance is also due to the fact that between FY 2014 to FY 2017 motorcycle sales in India overall grew at 2% CAGR (Compounded Annual Growth Rate) while the 500cc plus segment grew at 22% CAGR.
The second largest luxury bike manufacturer in India after Harley-Davidson, Triumph, currently holds a 19% market share. The brand recently launched the Bonneville Speedmaster at Rs. 11.11 lakh (ex-showroom) and is gearing up to introduce the 2018 Tiger 800 and Tiger 1200 in the coming months.
Bajaj Triumph Partnership
– The alliance between Bajaj and Triumph to focus on the 250-700cc segment
– Bikes jointly developed will cater to India as well as international markets
– Triumph’s partnership with Bajaj is with a view that the industry and volumes will grow
– The 1st Bajaj Triumph bike is reported to be launched by 2021
Source – ETAuto.com