Triumph Bets On New Launches, Subsuming BS-VI Price Hikes To Beat Slowdown

Triumph Motorcycle India is betting on five product launches and absorbing price hikes of implementation of the latest emission norms as it looks to drive demand amid the worst slowdown in the Indian auto slowdown in over two decades.

“The only thing that drives this industry is newness and (automobile) industry is dependent on new product introduction,” Shoeb Farooq, general manager of the Indian arm of the British automaker, told BloombergQuint in an interview.

The launches, Farooq said, would help the maker of motorcycles tide over a “difficult patch” as it has already postponed its dealership expansion plans for 2020. “We were looking to add 2-3 dealerships in smaller towns but realised the time wasn’t right.”

The company, which recently partnered with Bajaj Auto Ltd. to develop 250-750 cc engine-powered bikes priced under Rs 2 lakh by 2022, is also looking to absorb the price hike of its current portfolio of products following its transition to BS-VI emissions norms.

“Given the current market dynamics with no real upswing in foreseeable future, we’re looking at holding on to the price increase for BS6 for now,” he said, adding that company will hold on to the price hike for at least a quarter.

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