Business Standard: July 18, 2016
Ahmedabad: Firodia family-led Pune-based Kinetic Group, which had brought in the affordable two-wheeler Luna about 40 years back, plans to sell around 250 super luxury bikes from the MV Agusta stable this fiscal.
With the Agusta, Kinetic Group has re-entered the two-wheeler space which it exited about eight years ago when it sold its two-wheeler business to Mahindra & Mahindra.
Inaugurating its second Motoroyale showroom in the country after opening the first in Pune in May, Ajinkya Firodia, managing director, MV Agusta India sounded upbeat, “We aim to sell around 250 super luxury motorcycles this fiscal. We have already sold around 24 motorcycles across India since we began including eight from our Ahmedabad showroom.”
Italian premium bikes maker MV Agusta has tied up exclusively with Kinetic Group to sell their motorcycles in India, and a separate company called MV Agusta India Private Ltd has been incorporated for the purpose. It is a part of the Kinetic Group of companies.
Kinetic has also started a new venture called Motoroyale, which would be a chain of high-end motorcycle stores with bikes sourced from some of the leading two-wheeler brands in the world.
Superbikes are a fast growing category in India, partly because of its small base, but also because of a growing clan of biking enthusiasts.
Around 13,000 superbikes were sold in India last year, and the number is expected to touch 20,000 bikes by 2020. It is still a very small portion of the market, as the country sells 14 million bikes per year.
Firodia added that the Group is already in talks with other international brands to bring in their motorcycles under the Motoroyale chain, and at least one new brand would be launched by next year. This could be bikes in the Rs 3 lakh to 10 lakh range, primarily 300-500 cc bikes, which are the highest selling in the superbikes segment.
As of now, Motoroyale would be selling three models - the F4, F3 800, and Brutale 1090 along with several variants, priced between Rs 17-50 lakh. The F3 800, priced at Rs 17.7 lakh, will be assembled at Kinetic’s Ahmednagar plant, the rest are imported.
The plant can assemble around 2,000 bikes per month, and Firodia feels the capacity is sufficient for the time being.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.