The segment of luxury motorbikes in the country has been very interesting for some period of time. The general market has been growing consistently but the segment in the pricing above Rs 5 lakh has been attracting the interest of various players in the world. One of the largest bike shows in Asia, the India Bike Week is being held in the State and the number of launches of bikes in the luxury category is an apt reminder of the attention being paid by all the main players in the world.
Bikers from across the country rode into Vagator as the landmark 5th edition of the India Bike Week kicked off today. While former world champions like Freddie Spencer graced the occasion and reminisced about their glory days, the thunder was stolen by the launches.
Triumph Motorcycles unveiled the Street Triple RS and the new motorbike. BMW Motorrad launched its latest K 1600 B Bagger and the brand-new 2017 BMW RnineT Racer. Avantura Choppers announced its launch as the first and only production Chopper motorcycle brand from India, and MaximusPro unveiled the product for the first time ever at IBW. Indian Motorcycles had a special preview of the Indian Scout Bobber for the IBW audience and CEAT launched a new range of tyres for 200-400cc sports bikes. As yet another first, Harley-Davidson brought in expert flat track riders to demonstrate flat track riding skills on a purpose-built Flat Track Harley-Davidson Street 750 by Rajputana Customs.
Vimal Sumbly, MD Triumph speaking to the Herald said “The Triumph rider is about individuality. They ride for themselves. The Classic Cruiser is from the Triumph Bonneville family and is based on the 1200 cc platform. We are coming along quite well. We have five genres Classics, Cruisers, Adventure, Roadstar and Supersports.”
The Classic, he said contributed to 45 % of their sales in India. It attracts the youth, mid age and old people. Adventure dominated the segment in the country with Tiger being No 1 in the premium and luxury bike segment.
All categories had 4500 customers in the country with South India, the North, West and then East India ranking in sales. Karnataka was very prominent in terms of sales with Kerala and then Hyderabad coming in third.
Post demonetisation he said there was a surge in sales with people coming in with cheques. With regards to GST, he said it helped them achieve uniform pricing across the country. The luxury category was becoming big in the country with a dramatic change occurring. He said in 2006-7 there were just 400 to 500 bikes in the 500cc. Last year there were 10,000 sold and this was expected to double by 2022.
There are now 15 manufacturers operating in the country who are present in that segments from countries as diverse as Italy, Germany, England and Japan to cite a few.
Dimitris Raptis, Head of Region Asia, China, Pacific, South Africa, BMW Motorrad was all excited while speaking to the Herald. He said “it is one of the biggest markets and is very promising. We have 7 dealers already which is fantastic and we will be focusing on the Tier 1 cities and enhance our reach.”
Hhe said the company did not have any plans to set up a dealer in the State and that could happen in a couple of years. He said the company believed in enhancing network development with volume development so everything went along logically.
The bike week is not about manufacturers alone. Accessories were being promoted very aggressively. From helmets, jackets, energy savers, they were all present. For some it was a forgettable few months first with demonetization and then the high rate imposed during GST. However now with the rate having been reduced by 10% many are looking forward to sales improving slowly.
According to “premium motorcycles market forecast and opportunities in India, 2017,” report the outlook for the premium motorcycles seems very promising, as the overall consumer spending and HNI population is on the rise. Newer and advanced premium motorcycle models are available at a number of company outlets and their visibility has increased manifold since 2007.
The market for bikes above Rs 5 lakh is growing by leaps and bounds and if we look at the figures, sales of luxury bikes have grown at a rate of 35 per cent over the past three years in India — the fastest among motorbikes — with an estimated market size is 8,000 to 10,000 units per annum, up from 100 units a year less than a decade ago.
What is even more interesting is that the demand for luxury bikes is not just limited to the metropolitan towns, but has also reached tier-II and tier-III cities. The rapid network expansion of luxury bike companies to the tier-II and tier-III cities underlines the fact that the market is not confined to a particular geography. In response to the growing demand, the brands too are not leaving anything to chance. Cities like Ahmedabad, Kochi, Goa, Pune, Chandigarh, Indore, Bhubaneshwar and Lucknow are the new hotspots for luxury bike companies. The days ahead are certainly interesting for everyone concerned.
