Bajaj-Triumph eyes volumes of 40,000 to 50,000 units of mid-size bike sales globally in FY24

Bajaj-Triumph will be hoping to produce and sell about 40,000 to 50,000 units of its much-awaited mid-size motorcycle in FY24, globally. 

Launched at an aggressive price of Rs 2.23 lakh for the first 10,000 customers, the company had received over 2,500 bookings for the Speed 400x, within a couple of hours of the price announcement on Wednesday. 

Speaking on the sidelines of the launch - Rakesh Sharma, ED, Bajaj Auto, told journalists that the company has planned for a production capacity of 5,000 units a month and he is fairly confident of utilising the capacity. There is a possibility that the model may go into a waiting period of 2-3 months, if this momentum continues, he opined.

"There is a very strong response to the model and there have been numerous calls from dealers around the country - enquiring about availability and delivery. We will start with 5,000 units a month, and based on the demand, if needed, we can ramp it up further,” said Sharma.

The model will be produced out of Bajaj Auto’s Chakan plant, which has a current capacity of 25,000 units a month – this will be shared between both KTM and Triumph models.

The initial capacity allocated to Triumph bikes is 5,000 units at present, but there is no challenge in ramping it up further if the offtake is high, assured the company. 

The new mid-size bikes will be sold through dedicated Triumph dealerships across the country. By the end of this month, the model will be available for sale across 30 locations, which the company wants to ramp up to 80 cities and 120 showrooms by the end of March 2024.

While the Speed 400 has been launched, Triumph also showcased the Scrambler 400 which will be launched in October this year. With the production of both these models and kickstarting supplies to the overseas market by the end of the year, the output could breach 50,000 units.

Paul Stroud, the chief commercial officer for Triumph Motorcycles says the company's plan is to sell over 15,000 units in the global markets this year (outside of India). The bike will be made available in the markets of US, UK, Japan, South America and South East Asia.