Honda Motorcycle & Scooter India (HSMI) the
countries second largest two-wheeler maker is focusing at introducing a
multiple product to take on Royal Enfield in the 250-500 cc or on mid-weight
motorcycle segment. HMSI has currently two products namely CB350 and CB350RS
and the company is targeting a spike in sales units to 3,00,000 units in the
category for the next three years with a new portfolio of the locally produced
midsized motorcycles.
Atsushi Ogata, HMSI President told that “Sooner or
later we will also have our new line-up, with additional products portfolio.
The number of models in mid CC segment will increase year by year and surely
sales will go up to 3 lakh units within three years and that is our internal
target”.
To expand the reach HMSI which currently has 70
BigWing outlets chain for exclusively retailing and servicing premium bikes
will now expand its presence to 300 customer touchpoints in the next three
years. The company is now working at putting 100 BigWing outlets in place to
cover the top 50 units in operation areas by the end of the ongoing financial
year and HSMI aims to accelerate the dealer expansion to cover up the top
hundred units in operation area in the next financial year.
According to the Society of Indian Automobile
Manufacturers 2,76,365 motorcycles with 250-500 cc engine capacity sold in the
first seven months in this financial year in the local market with an increase
of 4.2% compared to the year ago period. But overall sales of motorcycles
declined to 1% in the same period. Royal market share during April – October
2021 was 88.6% down by 700 basepoints
YOY where as HMSI’s share rose to 6.8% from 0.5% in the same period.
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