Harley-Davidson with Street 500 and Street 750 entry in with new rebellion and the company attempts to attract a wider customer base, especially in the emerging markets. India is the second largest motorcycle market in the world and going lead to China with over 10 million motorbikes sold in a year and has a great craving for median range motorcycles, how ever the Indian motorcycle productions companies Hero Moto Corp. , Honda Motor and Bajaj Auto are offering cheaper 100 to 150 cc motorbikes
The Harley Davidson share NYSE=HOG, of the iconic manufacturer of premium motorcycles, have surged by 22% in the last six months and by over 32% last year. In spite of the saturating heavyweight motorcycle industry in the U.S. and weak economic conditions in Europe, the automaker’s revenue increased by 7.4% year on year to attain nearly billion $4.3 in the 9 months finale September 2013. India and China lead the charge for Harley Davidson in the Asia Pacific region where sales rose by 10% during this period. As the company unveils its new Street 750 bike in India this month, we take a look at opportunities for the automaker in the country’s motorcycle market.
However, the premium motorbikes section has grown-up at a CAGR of 25% from 2009 to 2012 and is expected to continue growing at a speedy pace in the next few years. In adding, sales of midsize and large motorbikes have also surged by 60% in the seven months ending October 2013. The Indian consumer base offers a large pool of potential customers for premium bikes, with increasing disposable incomes and a rising proportion of high income groups in the country. According to a report released by Credit Suisse, India has around 182,000 millionaires, which is 15% greater than the parallel figure in 2012.
The comparatively affordable Street series has been intended for the stop and go traffic with superior ground authorization, narrower framework and a new suspension system, which suits the Indian infrastructure. Harley Davidson will launch the Harley Street 750 for now and plans to introduce the Street Harley Davidson 500 later on to further its reach in the lightweight motorcycle market. The price for the Street Harley750 in India will be close to $8,000.