Indian Motorcycle expects to gain 25-30% share

US-based niche bike maker Indian Motorcycle is seeking to replicate the growth in India which it has witnessed in other global markets, and expects to garner 25-30% market share in the premium motorcycle segment, having suffered a "washout" in 2020, according to a senior company official.

The company, a wholly-owned division of Polaris Industries Inc that sells a range of imported bikes priced between Rs 15.68 lakh and Rs 43.96 lakh, was unable to operate fully in the Indian market due to non-availability of BS-VI compliant models besides the disruption due to the pandemic.

"Globally, we are registering growth everywhere, we are getting market share. There is a double-digit growth in North America, in AsiaPacific, in Europe and in Japan. It gives a clear indication that the brand is growing everywhere," Polaris India Pvt Ltd Country Manager Lalit Sharma said.

As for the Indian market, he said last year was very tough for everyone and unfortunately or fortunately, it was more of a "cooling period for us because we were not having any Euro V (BS-VI) motorcycles at that time. We received the new set of motorcycles early this year only".

However, Sharma added this year is pretty strong with the company. "We have a new set of motorcycles... The new Chief series and more affordable bikes are coming up... Customer inquiries and orders have gone tremendously up. New customers are coming in and dealers are pretty positive," he said.