Bajaj Auto plans to ramp up production of new Triumph bike starting Q4 FY24
As Bajaj and Triumph are exploring further growth avenues under their collaboration, the homegrown auto major also expects to launch at least one model under the Triumph brand annually.
Leading automaker Bajaj Auto has drawn up a strategy to augment the production capacity of its first premium offering, Triumph, to 10,000 units per month by the end of this financial year.
The initial planned capacity for Triumph at the new Chakan plant was 5,000 units per month. According to Rakesh Sharma, the executive director of Bajaj Auto, the company has delivered over 8,000 new Triumph bikes thus far since the commencement of its deliveries in August.
"We started with only 14 dealers, and we are now at about 28, and these by the end of the year will touch 100 cities from the current 20 cities. We have a healthy order pipeline. Our current capacities are around 5,000-7000 units per month, and by the time we enter the last quarter of this fiscal year, we will be expanding Triumph bikes' capacity to 10,000 per month. Beyond that we also have a steady programme of expansion, which will be calibrated along with the network expansion," Sharma told Autocar Professional.
Bajaj Auto has formed a strategic alliance with Triumph UK to co-develop new products to be sold under the Triumph badge, with production at a new facility in Chakan and sales managed by Bajaj Auto and Triumph directly. Notably, the production capacity of the new Chakan plant is about 25,000 units per month and is fungible between KTM and Triumph.
Sharma also mentioned that the bike will be launched in international markets by the end of October or early November 2023. The company plans to launch these bikes in the UK, North America, South America, Japan, and Southeast Asia markets and aims to export 20,000–30,000 units.
As Bajaj and Triumph are exploring further growth avenues under their collaboration, the homegrown auto major also expects to launch at least one model under the Triumph brand annually, including more product launches on the same platform and exports from India.
Commenting on the overall motorcycle business, Sharma highlighted that the segment has performed well in the last quarter, particularly in the 125cc plus segment, which is Bajaj Auto's area of strategic focus. "Compared to the same quarter last year, we have gained a 2% market share in this category. We have risen by 36%, while the rest of the industry has grown by 12% in Q2. This means that it has a better impact on product mix and revenue realisation," he added.
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