In India, 100cc commuter motorcycles may have ruled sales charts for decades and middle weight [350cc-750cc] motorcycles have been gaining good traction in the last few years.
However, even as competition is growing in this segment from local as multinational players like Hero, Triumph and Harley Davidson, one company - Royal Enfield - has dominated this segment.
Mahindra-owned Classic Legends, which had entered the space in 2018 relaunching the once iconic Jawa, Yezdi and BSA brand of motorcycles, has also not been able to make a huge dent in the market.
In July, for instance, Classic Legends retailed 2,131 units, compared with Royal Enfield’s 57,325 units, according to FADA [Federation of Auto Dealers Association].
But, things are possibly about to shift gear with the company, in which Mahindra holds 60 per cent stake, stepping up the gas with a slew of new launches and an ever expanding network of dealers and service outlets.
It was just in early August that Jawa unveiled the 2024 Jawa 42. That was followed up the launch of BSA Gold Star on August 15. On Tuesday, Classic Legends launched the Jawa 42 F.J. 350 at prices starting Rs 1.99 lakh.
This is in addition to the new 350, Perak and Adventure that it has driven in, in 2024.
The Jawa 42 F.J, which is powered by a 350 Alpha2 engine, will compete with Royal Enfield's Hunter and Classic 350 motorcycles.
With a slew of new launches, Classic Legends is also expanding its retail network rapidly. From around 450 outlets now, the company will have 650-odd by the end of the financial year. Before Diwali itself it will add close to 100 dealers and service stations.
With a diverse portfolio of motorcycles spread across three brands and three style segments - Classics, Neo Classics and Customs - Classic Legends, which calls itself a challenger brand, believes it is now at an inflection point.
Anupam Thareja, the co-founder of Classic Legends, pointed that the company had overcome several speed bumps including COVID-19 and lockdowns.
"With Classics, Neo Classic and Customs and the launch of the newest neo classic Jawa 42 F.J, the range is complete, now the segmentation of the market is complete. We have got the product, we have got the distribution and you will see the disruption," he said.
He said that while the last couple of months had been slow due to things like general elections and weather [heat waves, heavy rains etc], enquiries have picked up significantly.
"My assumption is that this will be the best Diwali for the automotive sector. Rains have been good, mood is ok, uncertainty around elections is behind us... Once the rains subside there will be pent up demand of all these months, apart from the fact that there is a genuine uptick that we see," Thareja said.
The company had earlier announced investments of Rs 1,000 crore, of which it has so far spent around Rs 350 crore.
"You can see the model line up is done. So, we are now going to go and invest in marketing, distribution and global expansion. I think, we will use about Rs 1,000 crore in the next 6-9 months," said Thareja.
Classic Legends is already selling BSA motorcycles in 23 countries. It sells Jawa motorcycles through Jawa Czech Republic. That company is distributing Jawas in 19 countries.
Sales of electric two-wheelers are on the rise. Classic Legends says it has developed its electric motorcycle, but will wait and watch the market and infrastructure develop further before launching it.
Over time the battery prices are expected to come down. Other things like battery management systems [BMS] and range is also expected to improve in the EV industry and this should benefit it, added Thareja.
