Polaris India on Wednesday forayed into the super bike segment in India with the launch of its iconic motorcycle brand 'Indian', priced at Rs 26.5 lakh onwards.
Polaris India is a wholly-owned subsidiary of US-based Polaris Industries Inc.
The company’s Managing Director Pankaj Dubey said, “The super bike market in India is growing rapidly in India and we see a lot of opportunity here.
Polaris India has launched three models under the Chief range -- Classic, Vintage and Chieftain, priced at Rs 26.5 lakh, 29.5 lakh and Rs 33 lakh, respectively, (all ex-showroom Delhi).
Indian is the oldest US motorcycle brand and will compete with brands such as Harley Davidson and the recently launched British superbike brand Triumph in the country.
Talking to The Hindu on the sideline of the launch event, Mr. Dubey said, “Last year (2012-2013), the market size for superbikes was about 2,500 units, while the same stood at 100 units in 2007-08.”
He further added that the company will be focussing on bikes over 1,600 cc for which the market in the country stood at around 200 units. “This year, we expect the market to grow by 40-50 per cent. We are looking to have 10 per cent market share in this segment to start with."
The superbike maker has started taking orders for the three bikes from today and will start the delivery from March.
"We are opening first dealership in Delhi. Later, we also plan to open one in Bangalore in the second quarter. Gradually we’ll expand to Mumbai, Chennai and Hyderabad as well," he said.
Minnesota-based Polaris acquired Indian Motorcycles in April 2011 and unveiled an all new range of motorcycles in August 2013. The company would be importing the three bikes as completely built units into India from its lone manufacturing facility in the US.
"The bikes would come as CBUs. At the moment, we don't have any plan to assemble them here," Mr. Dubey said.