NEW DELHI: India's biggest motorcycle maker, Hero Honda Motors, will launch two new models in the new fiscal year that begins in April to boost its sales growth in the world's second-largest motorcycle market, an official said on Thursday.
"One of them will be launched in October-November and another one in February-March 2005. Both of them will have ENGINE capacity greater than 100 cc," Ravi Sud, Vice-President, Finance, told.
Over 70 per cent of the motorcycles sold in India, a market of 4.3 million units a year, have engine capacity of 100 cc. New model launches are keys to driving sales in the country.
Hero Honda, in which India's Munjal family and Japan's Honda Motor Co each hold 26 per cent stakes, makes nine models and has a dominating 48.5 per cent share of the INDIAN MORORCYLCES MArket, the world's biggest after China.
The automaker, which mainly competes with second-ranked Bajaj Auto and third-placed TVS Motor, introduced five new models and variants in the current fiscal year to March 31. That helped propel sales 20.2 per cent in April-February to 1,877,976 BIKES, faster than industry growth of 14.1 per cent.
Sud expected the combined industry sales of two-wheelers, including scooters, motorcycles and MOPEDS, to rise by 11-12 per cent in 2004-05 and motorcycle industry sales to grow a little faster, by about 12 per cent.
He said the company had also boosted the combined production capacity at its two plants to 2.7 million units a year.
SOURCE: ECONOMIC TIMES
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