This segment has grown by over 1,000 per cent in eight years
Polaris India's Indian Motorcycle brand opened its fourth dealership in the country in Hyderabad on Friday. It's bikes start from Rs 12 lakh onwards. (Photo: DC)
Hyderabad: US-based Indian Motorcycles, a division of Polaris Industries, on Friday unveiled its plan of aggressive expansion in India by doubling its dealerships to 12 by next year. This is among many global firms eyeing a share in the growing premium motorcycle market.
The market for premium segment bikes, largely characterised by over 500 cc bikes, is having its dream run despite the turmoil in the automotive market. This segment has grown by over 1,000 per cent in eight years to a Rs 10,000 crore size in 2015 from a humble Rs 100 crore in 2007.
Speaking to the media on the sidelines of launch of its dealership in Hyderabad on Friday, Polaris India country head and MD, Pankaj Dubey said, “The growing capacity for spending has given an impetus to the sales of premium bikes in India. Also, the market is still at a very nascent stage, leaving room for growth.” Currently, it has a market share of 10 per cent.
( Source : deccan chronicle )
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