Triumph Motorcycles Announces Price Reduction on Speed 400, T4 Models Despite GST Hike

Triumph Motorcycles has announced a significant price reduction on its Speed 400 and Speed T4 models, marking an unexpected move in the Indian motorcycle market as the government has recently increased GST on motorcycles above 350cc to 40%.

The Speed 400 will now retail at ₹2,33,754, down from its previous price of ₹2,50,551, representing a reduction of ₹16,797. The Speed T4 has been priced at ₹1,92,539, reduced from ₹2,06,738. Both Triumph Motorcycles and its Indian partner Bajaj Auto Ltd. have absorbed the increased tax burden to enable these price cuts.

The Speed range has demonstrated strong performance in the Indian market, with monthly sales volumes nearly doubling since the 2023-24 financial year. According to company officials, demand surged notably before the recent GST revision took effect.

Manik Nangia, President of Probiking at Bajaj Auto Ltd., stated that the models have established benchmarks in their segment for performance, design, and accessibility. He emphasized that the price reduction reflects both companies' commitment to the Indian market and their confidence in sustaining current sales momentum.

Triumph Motorcycles, established in 1902, operates as the United Kingdom's largest motorcycle manufacturer with over 120 years of industry experience. The company maintains its headquarters in Hinckley, Leicestershire, and operates manufacturing facilities across the UK, Thailand, Brazil, and India.

The brand entered the Indian market in 2023 through a partnership with Bajaj Auto and has focused on the mid-capacity motorcycle segment with its 400cc range. Bajaj Auto, which has sold over 21 million motorcycles across more than 100 countries, is India's leading motorcycle exporter and the world's largest three-wheeler manufacturer.

The price reduction comes ahead of India's festive season, a period traditionally associated with increased consumer spending and vehicle purchases.

Taking on Royal Enflield

The past five years have witnessed an unprecedented assault on Royal Enfield's dominance in India's 300-700cc motorcycle segment, yet the Chennai-based manufacturer has been going from strength to strength.

However, the Triumph-Bajaj partnership has been the most successful challenger, becoming the number two player in the mid-size bike market. In 2024, Triumph sold 29,736 units of its 400cc models in India. The partnership leveraged Bajaj's manufacturing prowess with Triumph's brand heritage, offering competitive pricing between ₹2.24-2.54 lakh.

Hero MotoCorp's collaboration with Harley-Davidson produced the X440, selling 12,188 units (including the Mavrick 440) in April-December 2024. However, the X440 has not been able to maintain the momentum, suggesting initial enthusiasm hasn't translated into sustained demand.

Honda BigWing, another major challenger, has also quite inexplicably not been able to challenge RE's dominance in a major way, with models like the CB350 and CB350RS struggling to make significant inroads despite Honda's global reputation.

Another big letdown has been Classic Legends' Jawa and Yezdi brands. Despite backing from cash-rich Mahindra and legendary brand names, Classic Legends averages around 2,200-2,300 units per month.

While Triumph-Bajaj has carved a respectable niche, no competitor has truly challenged Royal Enfield's supremacy due to RE's brand equity, extensive dealer network of 2,000+ stores, consistent product refreshes, and deep understanding of Indian preferences. However, the latest pricing move could yet help the British brand further increase its presence in this lucrative segment.