Arnold Schwarzenegger driving the Harley-Davidson Fat Boy in Terminator is probably etched in the memory of every bike lover in the world. Luxury bikes have caught the imagination of many for years, and the craze is now spreading to India. Harley-Davidson and Triumph Motorcycles are cashing in on this demand.
More than half of India’s population is less than 25 years old. The average age in Japan is 47, and in the US, 45.
Harley-Davidson, which is seeing a dip in demand in the US, is focusing more and more on India. The country has 14,000 Harley owners, with the youngest being 18.
“In India we get a slightly younger (than global) buyer,” said Vikram Pawah, MD of Harley-Davidson.
Thanks to its Street 750 model, priced below Rs 5 lakh, owning a Harley-Davidson has also become relatively less expensive. The model was launched a couple of years ago specifically for emerging markets, and between April and July, the Street 750 contributed 60% to Harley’s India sales.
“Many people are buying classic models these days … they want a bike that is stylish, comfortable, and gives them an adrenaline rush,” said Vimal Sumbly, MD of Triumph Motorcycles (India).
Harley and Triumph between them account for 80% of bike sales in the over 800cc category.
{{/usCountry}}Harley and Triumph between them account for 80% of bike sales in the over 800cc category.
{{/usCountry}}Nearly 35% of the British bike’s buyers are under 30, and 7% under 20. Starting at Rs 7.7 lakh, the Bonneville (Modern Classics) series contribute 45% to Triumph’s India sales. Triumph has a financing scheme with HDFC Bank in which you can pay 15% for Bonneville and pay the rest in EMIs (at Rs 8,500 a month) for seven years. “The youth doesn’t look at price, they see the EMI,” Sumbly said.
“A luxury bike is like a lifestyle upgrade, fuelled by aspirations,” said Amit Kaushik, India head of Urban Science, Detroit-based consultancy.