New Delhi: US motorcycle maker Harley-Davidson Inc on Thursday announced its plans to foray into India's motorcycle market.
Indian motorcycle market is the second largest in the world and the company is looking for establishing dealership network in the country.
“As India continues to extend its global reach, so is Harley-Davidson. We believe the company has outstanding opportunities for continued growth around the world,” Harley-Davidson Motor Company (HDMC) president and Chief Operating Officer Matthew Levatich said in a statement.
With a plan to start selling its iconic motorcycles in India by next year, the company has established a subsidiary in Gurgaon.
This subsidy will be led by Managing Director Anoop Prakash.
Anoop said the company has begun the process of identifying initial dealers in Mumbai, Delhi, Bangalore, Hyderabad and Punjab.
The company will currently import its motorcycles, accessories and riding gear, and will evaluate how best to evolve its approach to the market as its business in India grows.
Indian motorcycle market is dominated by small, inexpensive bikes which are used for basic transportation.
However, the country's rapidly growing economy, rising middle class and significant investment in construction of new highways have opened the door to leisure motorcycle riding.
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“Given the rapid development of India's economy and physical infrastructure, this is exactly the right time to bring the world's greatest motorcycles to one of the world's largest motorcycling nations,” Levatich said.
Harley-Davidson is the global leader in cruising and touring motorcycles and ranks as one of the strongest brands in the world.
Its motorcycles are sold in more than 70 countries now.
Harley-Davidson Inc is the parent company for the group of companies doing business as HDMC, Buell Motorcycle Company (Buell), MV Agusta and Harley-Davidson Financial Services (HDFS).
While, HDMC produces heavyweight custom, touring and cruiser motorcycles, Buell makes American sport performance motorcycles and MV Agusta manufactures premium, high-performance sport motorcycles sold under the MV Agusta brand and lightweight sport motorcycles sold under the Cagiva brand.
HDFS provides wholesale and retail financing and insurance programs primarily to Harley-Davidson and Buell dealers and customers.
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