For the 2012 year ending December 31, 2012, Polaris Industries, Inc., (NYSE: PII) reported record net income of $4.40 per diluted share, a 38% increase compared to $3.20 per diluted share. For the fourth quarter of 2012 Polaris reported a net income of $1.24 per diluted share, up 38 percent from the prior year’s fourth quarter net income of $0.90 per diluted share. Reported […]
Triumph Announces Expansion to India
Triumph Motorcycles has announced plans to sell its motorcycles in India in 2012, becoming the latest manufacturer to enter the world’s second largest market.
Triumph has appointed Ashish Joshi as managing director for its operations in India. Joshi is the former head of European operations for India-based Royal Enfield.
According to a report from Dow Jones Newswires,Triumph plans to import fully built units but is considering having final assembly take place in India to lower tariffs. Triumph currently has two production facilities in Hinckley, England, and anothr three in Chonburi, Thailand.
“Our aim is to have our network and products in India in 2012,” Triumph spokesperson Paul Taylor told Dow Jones Newswires. “Right now, the investigation is going on whether we sell imported bikes or have some kind of CKD [completely knocked-down kit] operation.”
With over 9 million motorcycles sold in the last fiscal year, a 23% growth from the previous year, India is lucrative battleground for motorcycle manufacturers. Though a large percentage of motorcycles sold in India are 125cc or smaller, the rise of the Indian middle-class and the fast-growing economy has attracted the attentions of larger-displacement manufacturers such as Harley-Davidson, Yamaha, Suzuki, Honda, Ducati, BMW, and soon, Triumph.
[Source: Triumph, Dow Jones Newswires via Marketwatch.com]
Triumph motorcycles to enter Indian market
Iconic British motorcycle manufacturer Triumph has announced its intention to enter the Indian market.
First established in 1902 and now based in Hinckley, Leicestershire, UK, Triumph Motorcycles has in recent years been the fastest growing motorcycle brand in the world. For many years Triumph has produced a wide range bikes which perfectly blend design, character, charisma and performance. At the heart of Triumph’s philosophy is a commitment to developing truly unique motorcycles that offer a blend of distinctive design, intuitive handling and performance.
The innovation and engineering passion that gave birth to the iconic Bonneville of the 1960s has today created a broad range of bikes suited to all motorcycle riders, including the striking 2.3 liter Rocket III, the unmistakable Speed Triple, the award-winning Daytona 675 supersport machine and the recently launched Tiger 800. Remaining true to their heritage, Triumph combines the very latest design and manufacturing facilities with the character and design flair that has always been associated with the famous swooping badge.
Triumph has appointed Ashish Joshi as its Managing Director for India. Prior to joining Triumph, Ashish was heading the European operations for Royal Enfield and established the company’s business in Europe. He has over 16 years of experience in Asia and Europe.
Commenting on Triumph’s entry to the Indian market, Nick Bloor, CEO of Triumph Motorcycles, UK said “India is a very important motorcycle market and Triumph has assessed it carefully before deciding to step in. We see it as the next step in our global business model. The appointment of Ashish Joshi is a signal of our seriousness about success in India. I wish him the best and look forward to comprehensive growth from the Indian market.”