Lalit Sharma has over 16 years of experience in the automotive business. At Polaris India, he is the Country Manager overseeing the company’s operations. He began his journey at Polaris as a product management professional in July 2011 and then moved to be the Head - Product, Aftersales & PGA business before taking up the new role in April 2020. Before Polaris India, Sharma was associated with Honda 2wheelers, Hyosung and Fiamm Minda.
Which is the highest contributing sector for Polaris India and why?
We get significant contributions from the three key segments – tourism, utility and defence. Currently, tourism contributes 45%, utility – 30% and defence contributes almost 25%.
We believe that all the segments will continue to grow. However, we expect the defence to get stronger due to the thrust on speed, technology, and a special focus on vehicles that can work on all terrains.
For over a decade, Polaris Defence has been working with military and Government customers worldwide, integrating their unique needs with effective solutions. Polaris has developed a range of Side-by-Side (SxS) vehicles that cater to the specific requirements of the defence sector. These vehicles have received a strong response and have proven well-suited for various field applications for defence needs.
We also recognise the potential for growth in the tourism sector, particularly with the rise of domestic tourism and the demand for adventure travel experiences. As Polaris India continues to innovate and provide vehicles that meet the specific requirements of various sectors, including defence and tourism, we can further strengthen our position and expand our contributions from these sectors.
How has been the response from the agri industry for Polaris’ Sportsman tractor? Do we see Polaris India expanding its range in this sector?
The response from the agricultural industry to Polaris' Sportsman tractor has been fantastic, and the exponential growth within this segment encourages the company. The Sportsman tractor has gained positive traction among farmers and agricultural workers due to its performance, versatility, and suitability for various farming tasks.
The Sportsman tractor offers features that cater specifically to the needs of the agricultural industry, such as robust power, towing capacity, and hauling capabilities. It provides farmers with a reliable and efficient vehicle for transporting equipment, materials, and crops across different terrains on the farm. The tractor's durability and off-road capabilities make it well-suited for navigating rough and uneven surfaces commonly found in agricultural environments.
Is electrification a success in off-roading?
Electrification has proven to be a success in the off-roading segment, as evidenced by positive feedback and experiences with the Ranger EV, an electric utility side-by-side vehicle. The Ranger EV has garnered fantastic reviews and has demonstrated several advantages for off-road enthusiasts.
One significant advantage of the Ranger EV is its low maintenance requirements. Compared to traditional combustion engines, electric vehicles typically have fewer moving parts and do not require frequent oil changes or tune-ups. This translates to reduced maintenance costs and less time spent on servicing the vehicle, allowing users to focus more on their off-road adventures.
What is the overall market size for Polaris in India, and what is your outlook for this year?
We lead the market with a share of over ~40% in its relevant segment in India. Polaris has established itself as a prominent player in the Indian market, offering a range of off-road vehicles that cater to various sectors, including defence, agriculture, tourism, and utility.
How will India's All-Terrain Vehicle (ATV) market shape over the next three years?
The ATV market in India is expected to witness significant growth over the next years. The recreational segment in India is expanding as more people seek new and exciting experiences. With their off-road capabilities and adventurous nature, ATVs are no exception to this trend.
There is a growing inclination among Indian consumers to explore and engage in recreational activities that provide a sense of thrill and adventure. With their ability to navigate diverse terrains and provide an exhilarating off-road experience, ATVs have garnered interest from enthusiasts and adventure seekers.
Furthermore, the accessibility and availability of off-road trails, adventure parks, and organised ATV events also contribute to the market's growth. These developments provide opportunities for enthusiasts to engage in ATV experiences and further drive the demand for these vehicles.