Classic Legends Pauses Launch of Its Premium Bikes in US
Jawa, Yezdi, BSA maker expands in Europe, Australia, Japan; halts US launch after 50% import duty
Pune: Mahindra and Mahindra-promoted Classic Legends, the maker of Jawa, Yezdi and BSA bikes, is revving up its international business with exports starting this year to markets like the UK, Europe, Australia, Japan and Latin America.
But it has paused its potentially biggest market the US due to 50 per cent tariffs on exports imposed by President Donald Trump.
The premium bikes maker said it has a two-pronged growth strategy, namely, expanding its domestic sales network and exporting to a wide range of international markets.
According to Shard Agarwal, Classic Legends' Chief Business Officer, the company aims to double its overall sales this year to around 80,000 units from about 40,000 units clocked last year. The sales would include both local and exports.
Classic Legends' MD and Co-Founder Anupam Thareja said the company was setting up a global distribution network.
“We have already launched BSA Bantam in the UK and we are sold out there now for the season,” Thareja noted, adding that "We signed up Italy, Spain, Germany, France, Austria and New Zealand. We are also signing up for Australia".
He also said that the BSA brand will target the developed markets such as Japan, Australia, New Zealand, the whole of Europe, the UK and the US.
However, for now the company has shelved its plan to launch its premium bikes in the lucrative US market after the US President imposed tariffs amounting to a total of 50 per cent on Indian goods.
Classic Legends which had planned to launch the BSA bikes in the US on August 17 has now paused. "US, I have no idea... Our bikes are on the high seas. Our bikes are at customs there. We don't know what to do," Thareja said.
He said the US could have been a big market because when BSA was the largest motorcycle brand in the world, the USA was its largest market.
The company introduced the Yezdi Roadster at Rs 2.10 lakh at the Mumbai showroom to boost sales in the upcoming festival season, which accounts for about 25 per cent of the annual sales.