It may be nearly the end of the year, but the Triumph Motorcycles Group has released its financials for the first half of 2011 (Q1 2011 & Q2 2011). Selling 48,684 units worldwide, Triumph saw a 7% increase in unit sales when compared to the first half of 2010. This sales increase brought an 11% boost in revenue, which totaled £312.4 million. Triumph attributes the sales and revenue boost to the incremental models that have been added to the range, like the Triumph Tiger 800/800XC and Triumph Daytona 675R.
The company’s operating profit also grew over the same time period, with earnings before interest and taxes (EBIT) growing from £15.1 million to £22.3 million. This 47% gain in income is quite the coup for the small British brand, which is showing strong performance in an otherwise horrible market. With the 500cc motorcycle market down nearly 50% from where it was before the recession, 2011 has similarly been doom and gloom, down nearly 7% worldwide, though the turbulent sales numbers do appear to be bottoming out.
The Hinckley-based company hopes that the Triumph Tiger Explorer, Triumph Speed Triple R, and Triumph Steve McQueen Special will continue to push sales in 2012, but the British company is looking abroad as well. Set to release seven more models in India, Triumph will also be setting up production in the long-ago British colony. Triumph says the models will be large-displacement machines, likely models already in the Triumph line, rather than India-market specific bikes.
Before we get a gluttony of remarks in the comments section, we’ll remind readers that because of India’s extremely high import tariffs, virtually the only way OEMs can price their motorcycles competitively in India is by having local assembly/production facilities. Triumph’s announcement that it will setup a production facility in India is more about the British brand hoping to tap into the growing economy and motorcycle market in India, rather than outsourcing production across British borders.
Of course, we still expect those who don’t understand international sales tariffs to cry the sky is falling and that the Triumph name will be ruined by foreign production. C’est la vie.