The Indian arm of Austria’s sports bike manufacturer KTM is aiming at a ‘significant double-digit growth’ in sales during FY24, according to Sumeet Narang, president, Probiking, Bajaj Auto Ltd. (BAL).
KTM, in collaboration with BAL, produces several motorcycle models at the latter’s facility in Chakan, Pune.
“For the next fiscal, we are aiming at a significant double-digit growth. We want to grow in line with the market from wherever we are,” he said during an interaction.
“We expect the business to grow by 20%. Well, the market grows in spurts and it has been stable for last the few months. We have set an ambitious goal,” he said.
Mr. Narang was recently in the city in connection with the first KTM RC Cup held at MMRT for its customers at Irungattukottai.
According to him, in FY23, so far, KTM had sold about 50,000 units in India and would be closing the year with about 52,000 units in sales. During FY22, KTM sold 51,000 units against 63,000 units in the year-earlier period.
On new products, he said the company would be coming out with two to three variants of Adventure Duke 390 and Duke 250 series soon. Details would be disclosed later.
Regarding the introduction of bigger motorcyles (greater than 799 CC) in India, he said: “We are currently evaluating it. We have to look at the traction as well as the viability of it. Bringing big bike is not a main thing. What is important for us is to launch something with right experience for customers during sales and post sales.”
Asked about the impact of chip shortage on the sales, he said they faced some problem during 2022 and it was sorted out. KTM managed the situation very well, he added.
KTM India is also evaluating the possibility of bringing KTM Adventure Rally to India. It could be held somewhere in the Himalayas or Rajasthan, he said, adding that experts were looking at rally routes, terrains and what kind of customers could take part in it. The roll-out will happen more towards the end of 2023.
