After the super-cars, now it is the turn of the super bikes to rumble into India hoping to catch the fancy of the growing number of millionaires in the country.
Korean superbike maker S&T Motors on Wednesday launched two super bikes in the Indian market priced between Rs 4.75 and Rs 5.69 lakh.
The two bikes, sportsbike Hyosung GT 650 R and cruiser ST7, would compete with the likes of Honda, Yamaha, Ducati, Suzuki and Kawasaki, which launched their superbikes in India in the last two-years.
"India is really moving in the right direction and so we are here. It is the right time and right place for us," said Taekwon Kim, president and CEO, S&T Motors.
Unlike super-cars, the deluge of entrants has not led to a massive expansion of the market as the industry had expected. The overall size of the market for imported superbikes is still in its infancy. Ducati, one of the oldest entrants, sells around 100 units per year, while Honda sells 60 units. Among the bikes that are assembled in India, only the Kawasaki Ninja (the smallest and relatively cheapest) at 1,000 units per annum bears any respectability in sales.
Hence, S&T's target of selling 2,000 units a year seems stretched.
"It is difficult to analyse how many such bikes are sold every year since it is not tracked closely but we have received encoraging response so far with some 1,000 enquiries," said Kim.
His optimism is echoed by others as well.
"We have had an encouraging response to our products and are confident of realising the potential India offers in the superbike segment," said Ashish Chordia managing director, precision motors India. "With new dealerships opening in 2011, we are confident of touching the 300 units mark."