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Triumph and Indian Motorcycles post solid double-digit growth in India

UK’s Triumph and US-based Indian Motorcycles have registered strong double-digit growth in India since December, in an otherwise lurid fiscal year for the segment, with company executives crediting recent expansions into more cities and easy accessibility of finance for the performance.

Triumph sold 300-350 motorcycles at the retail level from December to February, registering 37% growth from a year earlier. The company’s dispatches to dealerships, though, increased only 8%, and the retail numbers included sales from the inventory that was lying at stockyards.
“In a way, demonetisation helped our industry, wherein the off-take has been stronger than usual, and the finance penetration has also shot up from 50% to 75%, indicating that there is strong demand in the market and people want to fulfil their aspirations,” said Vimal Sumbly, managing director of Triumph Motorcycles India, while speaking to a leading business daily.