It’s good news from the bean counters at Hinckley as Triumph Motorcycles saw earnings climb 48 per cent to $34,993,164 during the year to June 30.
The honchos at Triumph said the company’s performance was due to the success of new, more expensive models and more efficient production methods.
“Last year, we launched seven bikes, which is unprecedented for a major manufacturer. Generally speaking, the bikes we have brought in have been premium products,” said Triumph spokesman Paul Taylor.
The English firm specializes in large-displacement road motorcycles and sold 48,684 machines, and that number represents a 7 per cent increase over the previous 12 month period. The news comes on the heels of the recent announcement that worldwide sales of large bikes fell by 7 per cent.
Taylor added that Triumph’s total income rose by 11 per cent to $538.7 million.
So how did they do it in a down market which has seen other manufacturer’s suffer? They did it by launching a range of successful models recently which include the classic Speed Triple and the Tiger 800 adventure bike.
“They have developed bikes people want in terms of performance, being different from the rest and price,” said executive editor of Motor Cycle News, Phil West. “It’s a tough market and bike sales are down generally. But (Triumph) are growing and the ones that are growing are the ones that are being bold.”
Triumph launched a bigger version of the Tiger and a premium version of its Speed Triple last month, and a special Steve McQueen edition of the classic Bonneville also generated some buzz. The company plans to launch even more new models next year to add to the current roster of 22 models already in production. Taylor said the company plans to start selling bikes in India and Brazil and is aggressively looking to recruit skilled designers and engineers to help continue the growth.
Triumph’s performance flies in the face of the downward trend in the big-bike market which has seen overall global sales fall 50 per cent from a peak four years ago.
As it stands, Triumph is Britain’s best-selling bike marque in the 500cc and above sector and accounted for a twenty percent of UK big bike sales in the six months of 2011 to June 30. The company employs 600 workers at its factory in Hinckley and sold more than a third more bikes than nearest rival Honda.
Triumph Motorcycle Factory History Part 1
Triumph Motorcycle Factory History Part 2
Insuring your collectible or vintage motorcycle
You can spend a lot less, but if you plan to ride the bikes in your collection, the above pricing is a reasonable approximation of what you can expect to pay.