Indian Motorcycle, the oldest American motorcycle manufacturer, is set to launch the Indian Scout Sixty in India. The 1000 cc Scout Sixty is the smallest motorcycle in its company’s lineup in terms of engine displacement and with a price tag of Rs 11.99 lakhs, it’s the cheapest too.
“We will be commercially launching the 1000 cc Scout Sixty next month and the 1800 cc Springfield by September,” Polaris India Managing Director Pankaj Dubey told PTI here.
The Indian Motorcycle brand is owned by Polaris Industries Inc. Polaris is the leader in off-road and all-terrain vehicles (for recreational and utility purposes), snowmobiles, motorcycles and electric-powered vehicles) in USA, serving the Army, BSF, ITBP and many state police forces since the past four decades.
Until now, Indian Motorcycle was focusing on the 1200 cc and above segment of motorcycles in India with 6 different models being sold in the country right now. The company is now looking to capture 15% of the luxury motorcycle market and also plans to break-even its domestic operations by 2020.
To achieve this target, Indian Motorcycle is also going to launch their flagship 1800 cc ‘Springfield’ motorcycle which, with a price of Rs 30.6 lakhs, is the costliest and most powerful motorcycle from the company’s stables.
Indian Motorcycle, which sells six models now – the Roadmaster, Chief, Scout 1, Chieftain, Chief Dark Horse 2 and the Chief Vintage 3 with a price tag of Rs 13.8 lakh to Rs 38 lakh in the market since May 2011 – announced the prices of these two new models in April.
“We are growing at a pretty good clipping at 40-45 per cent so far this year. I am confident of meeting the 50 per cent sales jump we have targeted for this year and corner 15 per cent of the market share,” Dubey said.
But even with such an impressive array of Indian Motorcycles in India, it’s not going to be easy for the company to meet their lofty targets. The luxury motorcycles and superbikes segment in India saw an increase in competition in a very short period of time as a number of brands like MV Agusta, Aprilia and Benelli suddenly made their presence felt in the market.
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In the year 2015-2016, the superbike market in India (500 cc and above) grew just by 2.85 per cent from 9,940 units in the previous FY to 10,224 units in the current one. The market is led by American Harley Davidson with close to 5,000 units, followed by the Italian brands Benelli (over 2,400 units) and Ducati (600 units) and Japanese Kawasaki selling over 100 units a year.
However, in FY2015, out of the 9,940 units sold almost 65 per cent or 5,828 units were under 500-cc models, while in FY2016, this became just the opposite – 6,342 of the 10,224 units were above 500-cc models, according to industry estimates.
This goes to show that while the number of superbikes being sold isn’t increasing by leaps and bounds each year, the spending power of the public, as well as the number of options they have, is definitely increasing.
Aside from the established brands, Indian Motorcycle will also have to fend off the newcomers like Moto Guzzi, BMW Motorrad and KTM (who might enter the superbike foray with the KTM Duke 690). On dealership expansion, Dubey said out of the six targeted for this year, two will be ready by July in Chandigarh and by September in Kochi. The remaining four will come up before December in Pune, Kolkata, Indore and Goa. Its existing showrooms are in Gurgaon, Ahmedabad, Mumbai, Chennai, Hyderabad and Bangalore.
source: Economic Times