Italy-based Ducati Motor Holding, one of the world's leading producer of racing motorcycles, has ventured into the Indian market with a full range of its premium bikes priced between Rs 15 lakh and Rs 50 lakh.
The company has tied up with Precision Motor India Pvt Ltd for the India foray, which comes at a time when two-wheeler sales have been slowing in the country because of the high cost of finance. The market for premimum bikes is growing, however, with more money flowing into the hands of youth.
Under the agreement, Precision Motor will be exclusive importer of Ducati motorcycles in India. Precision group also represents prestigious brands in India including Porsche, Audi, NetJets, Fendi, Dolce&Gabbana.
“We are very impressed with evolution of the Indian market. It is no longer an emerging market, but a strong economy. I am very proud to officially announce our entry in the Indian market,” news agencies quoted Ducati Motor Holding CEO Gabriele Del Torchio as saying.
Torchio, however, refused to give any specific volume or revenue target for the company. “We will be importing 50 bikes this year. If we will be able to sell these (50 units) in the current year, then it will be more than enough,” he reportedly said. The partnership promises to strengthen significantly over time as Ducati sees great potential for penetration on the Indian market.
Besides, the company is also exploring possibilities for considerably increasing its component sourcing from the Indian market. “We are currently sourcing engine parts and other key components from here. We plan to increase it considerably and holding discussions to five different players," Torchio said without divulging details.
A high level delegation comprises engineers from the company's facility would be visiting India next week to finalise the sourcing partners here, the CEO reportedly said.
In a statement Ashish Chordia, chairman and CEO of Precision Motor said, “The passion that I have for this glorious marquee is both a source of pride and a stimulation to promote and develop Ducati’s entry into the Indian market.”