British motorcycle maker Triumph and Indian automobile giant Bajaj Auto, which had announced an alliance in August 2017, have been working on a number of models and the emerging reports indicate the results will challenge the status quo of 250cc to 700cc bike segment in India that is ruled by Royal Enfield and KTM.
While Bajaj Auto will continue to focus on its sub-250cc motorcycle segment, Triumph Motorcycles will continue giving attention to above 750cc motorcycles, which is their core market. The alliance, on the other hand, will explore the untapped 250cc to 700cc bike segment, a domain of Royal Enfield and KTM.
Royal Enfield now holds a significant share of about 76 percent, followed by KTM with a 21 percent share. The new tie-up is eyeing to eschew the duopoly of Royal Enfield and KTM in the fast-growing segment. Royal Enfield sells an array of cruisers while KTM bikes are sportier models. Bajaj-Triumph models are expected to feature a character blend of both.
"The mid-segment is growing rapidly in India. Today the 250-500 cc segment is roughly around 8,00,000 units a year dominated by Royal Enfield followed by KTM and Bajaj. This segment has the strength to go to 1 million units," ET Auto quoted Vimal Sumbly, MD of Triumph Motorcycles India.
Triumph expects Indian market has the potential to find over 1,00,000 takers of their bikes annually. "The partnership with Bajaj Auto is with a view that the industry and volumes will grow," Sumbly added.
The first product from Triumph-Bajaj partnership is expected to hit the market in 2020. A concept of the joint project has almost been confirmed and it is likely to be a single-cylinder 500cc bike, claim reports.
The current entry-level model of Triumph is the Street Twin which is priced at Rs 7.30 lakh ex-showroom while the bike from the partnership is expected to be more affordable in the range of Rs 4-5 lakh or even below.