Mr Pankaj Dubey Managing Director Polaris India

In Conversation: Pankaj Dubey, MD Polaris India / Indian Motorcycles

Mr Pankaj Dubey - Managing Director, Polaris India

Pankaj Dubey, the Managing Director at Polaris India Pvt Ltd is one of the most accessible and easy going business leaders you would ever meet. A talented singer who has sung alongside icons like Sunidhi Chauhan and Dr Palash Sen, a self-trained astrologer and a man who loves to drive, Pankaj’s relaxed demeanor  probably helps his team open up to him much better than they would have to a stereotypical head honcho with a  toffee-nose.

Pankaj brings along some really rich experience from the Indian auto industry. He has worked very closely with the top leaders at LML, Hero Motors and Yamaha. Instrumental in the launch of some extremely important products in the Indian market such as the LML Freedom and the Yamaha R15, Pankaj is now leading from the front at Polaris – the No.1 off-road vehicle maker in the world. But Pankaj doesn’t see Polaris as a mere maker of off-roaders in India – with the launch of Indian Motorcycles, the off-road giant has ventured into the luxury motorcycles market as well. And that’s just the beginning; the plans for the future are much bigger and far more ambitious.

Here, in this freewheeling interview, Pankaj recollects his days at LML, Hero and Yamaha, his learnings from the stints and tells us about his plans for Polaris in India. Read on…

By Amit Chhangani

Are you satisfied with the growth of Polaris in India thus far?

We are almost exceeding the goals that we had set for ourselves. We are a little more than 33 months old in this country, and we already have more than 50 touch points for Polaris, we have launched our motorcycle brand, and all that has been done with a core team which is just 11 members strong for Polaris India. With that kind of resource, the impactful brand that we have built and the imagery that we have created is a very good achievement. The base has been very strongly set and now we are ready to take it to the next level.

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We have come a great distance from a time when people confused Polaris with the software company, when I joined Polaris. I left Yamaha in 2010. Some of the people thought that I had joined a software company. There was also an article in the media about it. So that was the level of awareness about the brand in India. So from that state to being well recognized in India, having more than 500 people working directly or indirectly with the company, having touch points across the country, putting a JV with Eicher in place, having a couple of technical tie-ups, I think we have come a long way.

Mr Pankaj Dubey, Managing Director, Polaris India

How do you break up the sales of Polaris off roaders in India – what are the key buyer groups?

About 45 percent of our business is coming from the recreational side. From small entertainment parks to off-road experience zones that are coming up. The rest are from individual customers and government sales. Individuals buy about 45% and the rest of the ten percent is from sales to government agencies.

One segment where we have not been able to make much headway though, is the agricultural segment, probably because of the import duty and the high cost. Internationally that is the no.1 segment for us.

Are these specific agricultural products, or you encourage people to use your normal products for agricultural use also?

Well the basic product meant for agriculture remains the same as the normal product, and then there are agricultural implements which can be attached to perform a specific task. Cost is a hurdle, but we will eventually find a solution, and this segment would eventually be an important segment in India as well

Talking of individuals who buy your off-roaders, how and where exactly do they use these machines? I ask this because these are not everyday use vehicles, and have a very specific purpose. Isn’t it?

Well most of our customers are hi-profile, hi net worth individuals. They have their own farm houses, or live in areas where they have access to open spaces like fields, sand dunes, sea beaches etc. In most cases, when they first get an experience at our zones, they get hooked. The products are amazing, and once the customers have had a taste of it they want to own it.

The contribution of military forces, paramilitary forces and police is currently small, at about 10 percent. But the potential is very huge. We have made some deals, but are bound by non-disclosure agreements, and hence cannot talk about them. Gujarat police bought some vehicles from us, while also giving us the permission to talk about it. It’s the first police force in India to give us an order. They are very professional and very good decision makers. It’s been followed by another state police, the details of which I cannot share. Other negotiations are also going on.

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Are you also organizing events to promote the Polaris brand?

We are organizing events across the country at strategic locations calling HNIs. They come and drive the vehicles, and if they like it, we get some bookings. For us, experiential ride is a key marketing activity. Unless one experiences the product he won’t feel the need to buy it. Only after you have experienced the product on a difficult terrain, and you understand how capable and fun to drive it is, would you be inclined to buy it.

We have more than 25 experience zones in India. We are thinking about creating competitions for customers and fans, for example Mr. off roader or Miss off roader.  Participation in competitive rallies will also be looked at.

Are you looking at localizing production in near term?

Right now all the products are imported as CBU. We don’t have any concrete plans for localization, though we will look at this opportunity in the future. In order to do our best to keep the prices low, for a few really fast moving products we are keeping our margins extremely low, close to nil. The industry is currently in a nascent stage and localization is something that we’ll look at once we have attained critical mass.

What’s the size of Polaris product portfolio in India vis-à-vis the international model range?

Internationally we have about 100 products. For India we are focusing on 8-10 models which best suit the local needs and requirements. These are some of our best products which internationally contribute to about 70% of our total volumes, so the representation is much higher in terms of hi-volume products.

What other automotive brands does Polaris own worldwide?

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Apart from Polaris off-roaders, we also have the Indian Motorcycles brand under our umbrella. It’s one of the most up-market motorcycle brands in the world. Another motorcycle brand we have is Victory Motorcycles, which incidentally is the newest American motorcycle company, while Indian Motorcycles is the oldest American motorcycle brand.

We also have an electric product range with the name ‘Gem’. These are more like open vehicles, are available in both right and left hand drive and have many applications.

What according to you are the advantages that Indian Motorcycles has over its competitors?

Mr.Pankaj Dubey, Managing Director, Polaris India with the Indian Motorcyle range-

Well, the biggest advantage is the heritage and legacy of the brand. We are the oldest American motorcycle brand, and that gives us a lot of leverage. But that’s not all. Another major strength we have is the design and engineering prowess of Polaris. The new Thunder Stroke 111 (1811cc) engine is absolutely amazing. Thanks to this engine, the drivability of the Indian is much better than the competition. The maneuverability is great too.

The technology that goes under the motorcycle can be easily experienced when you are riding it. The immaculate finish of the product, the engine sound, attention to detail – we have taken every care to make Indian a great motorcycle range. The overall package as an experience we believe is much superior.

Our engineering team has been working on the motorcycle with its experience with Victory. Polaris is a very passionate brand and the people who work with Polaris bring a lot of enthusiasm to the table. They love the company and do their best. That’s how we manage to beat biggies like Honda and Yamaha on off-road products.

Indian Motorcycles too has been created with a lot of passion, and I think it’s the ultimate cruiser for its segment.

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