The segment’s sales surged to 8,264 units in FY19 from 3,585 units a year ago, a year on year growth of 130 per cent. The spurt came mainly because of Royal Enfield, which contributed 5,168 units to the total sales in FY19 compared to 305 units in FY18.
Introduction of new models is believed to have lifted the sales volume in the segment. “New models coming in the pipeline are attracting new customers towards premium segment. Moreover, in urban centres, lifestyle changes are happening. OEMs have their own clubs which promote biking as a hobby. That certainly has led to better consumer sentiments in this segment,” Kavan Mukhtyar, Partner, PwC said,
The sales further escalated after the Eicher-owned cult bike maker launched new models -650 twins: Interceptor 650 and Continental GT 650 in November 2018. These bikes registered sales of 1,700 units in the month of March 2019 alone.
Apart from increased inclination for biking as a hobby, the some manufacturers are offering these bikes at more accessible. Some bikes in this segment are no less than Rs 5 lakh, but Enfield’s 650 twins come at a starting price of Rs 2.5 lakh. This has definitely given a boost to affordability of customers.
Along with the sales, the company’s exports also witnessed a hike to 4,442 units in this segment, contributing to 45 per cent share in overall exports. Royal Enfield recently unveiled its brand in Europe.
|H-D Motor Company India||1,513||2,043|
|India Kawasaki MotorsPrivate Ltd||872||734|
|Suzuki Motorcycle India||206||0|
|Honda Motorcycle & Scooter India||84||91|
Harley Davidson, which has been leading this segment was pushed to second position with 1,513 units. The American premium bike maker sold 2,043 units in FY18. However, Harley Davidson has maintained its pole position for exports at 5,395 units. Suzuki Motorcycles India have also entered this segment last year and sold 206 units.