“Sales in the larger 500cc plus motorcycle segment, in key markets such as France, Italy, Germany, the USA and the UK have fallen by between 40 and 65 per cent over the past three months during what would normally be the peak season for sales,” the company said in a statement.
“Although Triumph sales have outperformed this significant decline to some degree, the market is forecast to remain considerably down on pre-Covid 19 levels as a direct result of the economic conditions created by it.”
Triumph’s factory in Hinckley, Leicestershire, mainly makes engine components. It will become a research and development centre, but continue to build their new Triumph Factory Custom (TFC) motorcycles.
Production will be wound down from about 6500 a year to about 4500.