Harley-Davidson and Triumph shift gear to challenge Royal Enfield's dominance in India

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Harley-Davidson and Triumph have surprised the industry by introducing their most affordable models globally in India, the largest motorbike market by sales. To achieve these competitive prices, they are now producing the bikes within India through domestic partnerships, bringing down the costs to below 233,000 rupees ($2,841).

This shift in approach by two legendary brands poses a substantial challenge to Royal Enfield, which has enjoyed a virtual monopoly in the high-end motorcycles segment. As consumer spending in India increases in premium segments across various categories, the timing seems favorable for Harley-Davidson and Triumph to gain ground.

While the recent launches of the Harley-Davidson X440 and Triumph Speed 400 have the potential to cut Royal Enfield's share of India's 250 cc-plus segment significantly, analysts acknowledge that the immediate impact may not be drastic due to Royal Enfield's extensive showroom network, strong after-sales service, and a devoted fan base. However, these latest moves by Harley-Davidson and Triumph have already caused concern among investors.

The stock price of Eicher Motors, the parent company of Royal Enfield, declined by as much as 12.5%, and brokerages flagged potential earnings risks for at least the next two years. Nevertheless, the increased competition and more accessible pricing may attract consumers who had previously aspired to own a Harley or Triumph but found the price points unattainable.

Both Harley-Davidson and Triumph have a history in India, but their previous expensive imports struggled to gain market share. Now, their new models have garnered significant interest, with Triumph receiving orders for over 14,000 Speed 400 bikes, surpassing its total India