Despite the unfavourable economic situation and tepid local consumption, demand for premium motorcycles is expected to grow this year.
Victory Motorcycle managing director Nattapon Trinathy expects sales of big bikes may surge to 20,000 units this year. A 100-millionbaht showroom and service centre opened on Phatthanakan Road in Bangkok yesterday.
This is evidenced by the advent of a premium US motorcycle brand that once was Harley-Davidson's biggest rival and which has built its first dealership in Thailand.
Indian Victory Motorcycle Co, the local authorised importer and distributor of two American motorcycle brands — Indian and Victory — yesterday officially launched the first flagship showroom and standard service centre worth 100 million baht on Phatthanakan Road in Bangkok.
It offers three Indian models (ranging from 1.475 to 1.695 million baht apiece) and 14 models of the Victory (1.015 to 1.995 million baht).
The Indian Motorcycle brand has a rich history in the US. Founded in 1901, it was the first motorcycle manufactured in that country.
The bikes went on to win major international races, and by the 1910s the company was the largest motorcycle manufacturer in the world.
In 1914, Indian introduced the first electric starter.
It offered its first four-cylinder bike in 1927, a move that made it competitive with Harley-Davidson.
By 1953, the company filed for bankruptcy. Rights to the Indian name switched to different companies as sales continued to slump.
About three years ago, the Minnesota-based Polaris Industries, a maker of snowmobiles and off-road vehicles, bought the brand and vowed to resurrect it.
The company, which also makes Victory motorcycles, introduced three models, the Chief Vintage, Chief Classic and Chieftain. Polaris also cut prices.
An Indian bike under the old ownership sold for as high as $36,000, while the new bikes range from $18,000 to $23,000. That's comparable to Harley's cruise line.
Nattapon Trinathy, managing director of Indian Victory Motorcycle, said sales of big motorcycles powered by engines above 500cc are expected to increase to 16,000 from 14,000 last year.
“If there are no political developments that directly influence the local economy, the big bike market market segment could surge to 20,000 units this year,” he said.
The Indian and Victory motorcycles are in the heavyweight segment with an engine size of more than 1,000cc.
Mr Nattapon projected heavyweight motorcycles sales of around 2,000 units a year.
Indian Victory Motorcycle expected to sell 20 Victory models and 60 Indian motorcycles.
Mr Nattapon said the company expects to open another 8-10 Indian and Victory outlets nationwide over the next five years.
Moreover, he plans to build another showroom and service centre for Japanese big-motorcycle maker Zero Engineering for 100 million baht this year.