Assuming a market growth of 15% per annum, the entry of the global brands should expand the pie, but it is also certain that both these brands are going to wean away prospective Royal Enfield buyers, thereby creating a dent in the market share. This could potentially lead to an erosion of 7-9% in the market share of the Bullet maker.
25 Jul 2023 | 3255 Views | By Ketan Thakkar
The entry of global iconic brands Harley-Davidson and Triumph India is set to ruffle the fast growing 1 million unit midsize Motorcycle Market in India.
According to several people in the know, between both these iconic brands with their respective partners, Hero MotoCorp and Bajaj Auto have a plan ...
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The entry of global iconic brands Harley-Davidson and Triumph India is set to ruffle the fast growing 1 million unit midsize Motorcycle Market in India.
According to several people in the know, between both these iconic brands with their respective partners, Hero MotoCorp and Bajaj Auto have a plan to produce about 1,00,000 to 1,20,000 units in less than a year, which may potentially eat into the pie of Royal Enfield's large volume which has a share of over 85-90% of mid-size motorcycle market. An email sent to Bajaj Auto and Hero MotoCorp did not elicit any response till the time of publishing.
About 90% of this output planned is for domestic market.
Assuming a market growth of 15% per annum, the entry of the global brands should expand the pie, but it is also certain that both these brands are going to wean away prospective Royal Enfield buyers, thereby creating a dent in the market share. This could potentially lead to an erosion of 7-9% in the market share of the Bullet maker.
According to several people in the know, Bajaj Auto is eyeing a volumes of 10,000 units a month of both Speed 400 and Scrambler 400 put together, starting October. There is an incremental volume for exports too.
At the same time, Harley Davidson has plans of producing about 25,000 to 30,000 units in the same time frame.
Given the fact that the Triumph received over 10,000 bookings within days of announcing the price, Bajaj Auto, its manufacturing partner had shared that the company is ramping up capacity to cater to the high demand.
Triumph launched the Speed 400 at Rs 2.23 lakh for the first 10,000 customers, which will increase to Rs 2.33 lakh post the 10,000 units, it said. Harley Davidson launched the X 440 at an aggressive price of Rs 2.29 lakh to Rs 2.69 lakh (ex- showroom.)
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'This is the first time we are serious in India': Jochen Zeitz, CEO, Harley-Davidson
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Bajaj-Triumph eyes volumes of 40,000 to 50,000 units of mid-size bike sales globally in FY24