With cruiser sales in the toilet and the U.S. economy going from bad to worse, 2008 might not be the best time to re-launch the legendary Indian brand, but that's exactly what's happening. Will the third try be a charm?

Only time will tell if the new Indian Motorcycle company, in Kings Mountain, N.C., will be able to succeed where the original Indian (1901-53) and its follow-up California Motorcycle Company (1999-2003) failed.On Friday, the new manufacturer of the old marque unveiled pictures of its pre-production Chief.

The new Indian, which is owned by the London-based private equity firm Stellican, is in its last phase of testing for the new 2009 indian Chief, which will be made in four different versions -- Standard, Deluxe, Roadmaster and Vintage -- and range in price from $30,999 to $35,499. Indian plans to show the new Chief live at the Sturgis Rally in early August, and hopes to launch production in late summer or early fall of 2008.