Harley-Davidson India managing director Anoop Prakash in New Delhi on Thursday. (PTI)

New Delhi, Jan. 5: Indians are buying bigger, costlier and “meaner bikes” to rule the roads.

The market for motorcycles worth over Rs 1 lakh is growing at 30-35 per cent every year, prompting the likes of Harley-Davidson, Triumph, Honda, Ducati, Suzuki, Yamaha and domestic firms such as Bajaj and Mahindra to launch more than 23 models, which cost more than Rs 5 lakh and another 28 priced between Rs 1 lakh and Rs 2.5 lakh.

Companies expect to sell around 6.6-7 lakh semi-premium (priced at Rs 1-5 lakh) and around 7,000 premium motorcycles (over Rs 5 lakh) this year.

According to motorcycle manufacturers, young urban professionals in the age group of 25-35 and earning around Rs 50,000-1 lakh per month are the target segment.

The market for fancy mobikes is growing in tandem with an over 25 per cent annual growth in this demographic segment.

“The market situation has changed drastically. Now there is a semi-premium and a premium segment in motorcycles. In the first segment, there are bikes with 250cc to 400cc engines with prices ranging from Rs 1 lakh to Rs 2.5 lakh. In the second segment, products are priced at Rs 5 lakh and above. Both the segments are growing at a fast rate as the disposable income among the young is on the rise,” said Naresh Kumar Rattan, operating head (sales and marketing) at Honda.

The company sold around 100 units with a price tag of Rs 8 lakh and above, and has launched two models —the 1000cc Fireblade and the 1300cc Cruiser.

Harley Davidson, which entered India two years back, has picked up sales after a few teething problems.

The company sold over 1,000 motorcycles in 2011 and expects the numbers to rise at least 40 per cent this year. It plans to increase its dealerships to 10 and will add Calcutta, Kochi and Jaipur to its network.

“The 800cc and above market is growing at 20 per cent. In the last two years, we have seen more young professionals buying our products. Today motorcycles are more than just a vehicle... they are a statement, a way of life,” said Anoop Prakash, managing director of Harley-Davidson India. The company has 145 models on sale.

According to analysts, the demand for semi-premium and premium motorcycles is set to rise in metropolises, tier-II and tier-III cities.