CHANDIGARH: Polaris India, which sells the luxury American bike brand Indian Motorcycle, friday said it is eyeing 60 per cent growth in sales this year on the back of rising demand for such vehicles.
The company has also plans to ramp up its dealership network by opening two more showrooms.
“Growth wise over last year, we are looking at 60 per cent plus (in sales),” Pankaj Dubey, Managing Director, Polaris India said here.
Currently, the market size of super luxury bikes is pegged at 1,000-1,100 units per annum.
“The market for super luxury bikes should grow at CAGR of 20-25 at least for decade. It is growing and it is catching up with customers. We visualise more passionate bikers will buy these products,” he said.
The company is also expecting to attain 15 per cent market in super luxury bikes segment. “We have 10 per cent market share at present and we are looking to get close to 15 per cent market share this year,” he further said. Polaris India, a wholly owned subsidiary of Polaris Industries Inc, the leader in offroad and all-terrain vehicles, today announced the opening of a new dealership here.
It is the seventh dealership of the brand in India, he said. “We have plans to open two new dealerships in Cochin and Kolkata this year,” he said. At present, it has showrooms in Gurgaon, Bengaluru, Chennai, Hyderabad, Mumbai, Ahmedabad and Chandigarh.
“Our biggest markets are Mumbai, Delhi and Bangalore,” he said.
The company also launched a 999-cc Scout 60 here which carries a price tag of Rs 11.99 lakh (ex-showroom Chandigarh).
“We will roll out another model Springfield in this year,” he said.
The company sells six models of super-luxury bikes — Indian Roadmaster, Chief, Scout, Chieftain, Chief Dark Horse and Chief Vintage.