Triumph To Foray into Used Bike Segment With Triumph Approved
British premium motorcycle maker Triumph would launch its used bike programme — Triumph Approved — by this month-end as part of consolidating its presence in the country, a top official said.
Under the programme, the company would target first time buyers, besides offering finance options, Triumph Motorcycles Business Head Shoeb Farooq said.
The launch of the Triumph Approved would happen by the month-end in three dealerships, he said, adding the company would gradually increase it to at least 10 dealership locations by December.
“It will be rolled out in at least 10 dealership networks by December. We are calling it a Triumph Approved. We are going to buy back used bikes from our customers, upgrade them and sell them with warranty”, he told PTI.
Asked about the products that would be launched under the programme, he said it will be based on the demand (from customers).
The products will be sold based as per the customer demand, he said.
Currently, Triumph retails nearly 13 products across various categories in the country.
“In the automobile industry there is degrowth and it is going to take some time to rebound (due to COVID-19 outbreak).
Even though there is degrowth in the industry, we are selling at similar levels to what we sold in July-September last year,” Farooq said.
Under the used bike programme, he said “we are also going to offer finance options and you can come to the dealer network just like you are going to buy a new motorcycle.” “Internally, we offer two-year warranty to new motorcycles, what we are planning is to offer a year’s warranty to used motorcycles”, he said.
Currently, Triumph has 14 dealership networks and has planned to add two more retailers instead of planned four as part of expansion plans.
“I think in the next 12 months, we will onlygo ahead with two more locations. One (dealership) may be in the South and the other in the East”, he said.
On the outlook, he said, in the next six-12 months the company has planned to launch new products which include unveiling of a new model — 650cc ‘Trident’ among others.
“It is going to be a very busy calendar..we think we will be able to clock 20-25 per cent growth over last year (FY19- 20)”, he said.
Triumph currently retails 13 motorcycles in the portfolio including the 2,500cc flagship The Rocket 3R and Rocket 3GT in the country.