Mahindra to invest Rs. 525cr to boost Classic Legends brand
What's the story
Mahindra has revealed plans to invest a whopping Rs. 525 crore in its Classic Legends unit. The brand has been responsible for reviving popular bikemakers such as JAWA, Yezdi, and BSA.
This investment is aimed at bolstering the company's presence in India's premium motorcycle segment, where it faces stiff competition from Harley-Davidson and Triumph Motorcycles.
Over the next three years, Classic Legends is expected to receive up to Rs. 875 crore, with some funds coming from other investors.
Revival
Reviving iconic brands and expanding offerings
Thanks to Mahindra's revival efforts, Classic Legends has brought iconic two-wheeler brands like JAWA and Yezdi back into the Indian market with fresh offerings.
Just last year, Yezdi introduced three new motorcycles called the Adventure, Scrambler, and Roadster, with prices ranging from Rs. 1.98 lakh to Rs. 2.10 lakh (ex-showroom).
However, despite these efforts, Classic Legends is yet to achieve the same level of success as its primary rivals, Royal Enfield and Honda.
Information
Motorcycles under the Classic Legends banner
In India, JAWA Motorcycles's portfolio consists of the iconic JAWA model, the 42, the 42 Bobber, and Perak. Yezdi's line-up includes the Roadster, Scrambler, and Adventure. BSA Motorcycles only has one capable offering, the Gold Star, for the European region.
Competition
Competition in the premium sub-500cc motorcycle segment
Currently, the premium sub-500cc motorcycle segment in India is dominated by Royal Enfield, which is owned by Eicher Motor.
The Chennai-based bikemaker launched the new Himalayan motorcycle to much fanfare.
Not to be left behind, Harley Davidson made a comeback in the Indian market earlier this year with the X440 motorcycle.
Co-developed with Hero MotoCorp, the X440 starts at Rs. 2.29 lakh (ex-showroom) and holds the title of the most affordable Harley-Davidson motorcycle available in India.