Indian Motorcycle, a subsidiary of American off-road vehicle manufacturer Polaris Industries
08 May 2015 | 6649 Views | By Jaishankar Jayaramiah
Indian Motorcycle, a subsidiary of American off-road vehicle manufacturer Polaris Industries, which opened a new dealership in Bangalore yesterday, is set up four more dealerships in India as part of its sales network expansion plans.
Pankaj Dubey, MD, Polaris India, said the new dealerships will come up in Mumbai, ...
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Indian Motorcycle, a subsidiary of American off-road vehicle manufacturer Polaris Industries, which opened a new dealership in Bangalore yesterday, is set up four more dealerships in India as part of its sales network expansion plans.
Pankaj Dubey, MD, Polaris India, said the new dealerships will come up in Mumbai, Hyderabad, Ahmedabad and Chennai. The first dealership was set up in NCR. The plan is to have a presence in 12 Indian cities in 2016.
Inaugurating the new dealership in Bangalore, Scot Wine, chairman and CEO, Polaris Industries, said the company has several plans for India. “We will constantly add investment towards bringing more motorcycles in India, fostering greater accessibility for more customers in this market,” he added.
When asked about the huge price gap between Indian Motorcycle and other foreign players like Harley-Davidson and Triumph, he said, “Our products are premium and hence the price.”
Also read: Indian Motorcycle launches Roadmaster, Chief Dark Horse
On assembling products in India to bring down the price, he said the company is currently importing them as Completely Built-Up Units (CBUs). Only time and volumes will decide about the company having Completely Knocked Down (CKD) kit assemblies in India in the future.
According to Dubey, the company has achieved a 10 percent market share in the above 1400cc and above Rs 20 lakh motorcycle market within a year of its entry into India in January 2014. This segment witnessed sales of 200 units in the past year across different brands in India.
The premium motorcycle segment in which Indian Motorcycle is present has recorded sales of around 1,000 units and is growing significantly, with an expected CAGR of over 25 year-on-year. Yesterday, the company launched the Roadmaster and Chief Dark Horse, priced at Rs 34.95 lakh and Rs 21.99 lakh (ex-showroom Delhi) respectively.