Triumph Motorcycles reported a 30% increase over the past 12 months with more than 1,200 units sold.

British premium motorcycle brand Triumph is bullish on the outlook for India’s niche two-wheeler market in the coming year, with the company aiming to increase its market share to 25% over the period from the current 22%, a senior official said on Friday.

He said Triumph Motorcycles had grown 30 percent in the past 12 months, with sales “just over” 1,200 units.

“We are now in a healthy position and expect to grow by 25-30% over the next year, with about 1,500 units sold,” business head Shoeb Farooq told PTI.

The company entered nine years ago and has a presence in the 500 cc and above motorcycle segment, with prices at over Rs 500,000.

Growth in the premium segment has been lower than expected over the past few years, as the COVID-19 pandemic has dented sales, Farooq said.

“The good news that is coming out is that the industry below us (250-500 cc category) is doing pretty well, with more than 100,000 motorcycles sold a year…which is good news for us because consumers are likely to Graduation from here to the next 500 cc and above segment,” he said.

On the sidelines of opening a dealership in Kolkata, he said that motorcycles with an engine capacity of over 500 cc are worth the money.

Triumph, which has 14 specialty stores in India, has passed on some of the rising merchandise and logistics costs to customers in the past six months, causing prices across categories to rise about 2 percent, Farooq said.

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“Prices may also increase slightly in August, but the exact amount has yet to be determined,” he added.

(This story has not been edited by staff and was automatically generated from the syndicated feed.)

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