Benelli India to add three new motorcycles to its portfolio by year-end
Italian superbike maker Benelli is looking to add three more motorcycle variants to its portfolio in India by the end of this year as well as expand its dealership network, the company's Business Head and Managing Director, Vikas Jhabakh told PTI. This includes the Benelli 502C power cruiser, for which the company recently opened pre-bookings, and is expected to be rolled out this month.
Currently, Benelli's India portfolio comprises three bike models — 500-cc TRK502, TRK502X and Leoncino as well as the 374-cc Imperiale 400. Going forward, the motorcycle company plans to continue focusing on the 250-500cc motorcycle segment in the country given that it has high growth potential in the overall premium segment, Jhabakh said. Currently, India has a large customer base for 125cc or 150cc bikes and a large group is upgrading to above 150cc, he added.
The 125cc-150cc bikes fall in the price range of ₹1 lakh- ₹1.60 lakh and the next jump that a customer makes it to ₹2-5 lakh bracket, Jhabakh explained. "It is quite likely that they will switch to a ₹8 lakh- ₹10 lakh bike from this level... That is the general tendency." Thus, the company believes that 250-500cc segment is the sweet spot for a lot of upgraders over the next two years. This segment stands at around 30,000 units annually, and Jhabakh added, "we are looking to corner 25 per cent of these total volumes in 2022."
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Benelli re-entered the Indian motorcycle market in 2018 after sealing a partnership with Telangana-based Adishwar Auto Ride, a subsidiary of Mahavir Group. It has a manufacturing facility in Hyderabad.
Speaking about dealerships, Jhabakh told PTI that the company had about 30 dealerships before lockdown and has continued to grow its retail footprint across the country despite the pandemic. It continues to receive interests from cities where it currently does not have physical presence. "If things continue to improve, we will be adding about two outlets every month, going forward," he added.
(with inputs from PTI)