Bajaj Auto sets ambitious production goal for Triumph bikes
What's the story
Bajaj Auto, a prominent figure in the two-wheeler industry, has unveiled its ambitious plan to manufacture 10,000 Triumph motorcycles each month by September 2024. The company's CFO, Dinesh Thapar, shared this information recently. This ambitious production target is part of Bajaj's strategic move to secure a significant portion of the high-end motorcycle market. Let's have a look at the long-term plan.
Sales performance
Triumph models show promising sales figures
Since their introduction in July 2023, the Triumph Speed 400 and Triumph Scrambler 400 X models have demonstrated strong sales performance. Approximately 42,000 units have been sold to dealerships so far. In the first quarter of 2024 alone, these two models accounted for the sale of 18,800 units, according to Thapar.
Strategy insight
Triumph production strategy unveiled
Thapar provided insights into Bajaj Auto's production strategy for Triumph motorcycles. He confirmed that the company is on track to reach its target in the first half of fiscal year 2025. "I would pin that in the first half of fiscal 2025," he said, clarifying that this goal would be achieved between now and September. Thapar had previously mentioned this objective in January 2024 but did not provide a specific timeline then.
Current status
Bajaj Auto's current Triumph production and sales figures
At present, Bajaj Auto's production stands at approximately 6,500 units per month. Triumph Motorcycles accounted for 2.1% of the firm's total two-wheeler sales in the fourth quarter. Meanwhile, the company's overall two-wheeler sales saw a significant increase of roughly 26% in the last quarter, compared to the same period the previous year, as reported by Thapar.