In its first press conference after the split up with Honda, Hero Motor Corp showcased what was on offer in the coming months for two-wheeler aficionados. Swati Khandelwal Jain of CNBC-TV18 reports that two-wheeler fans were able to view Passion ProX, a 110cc bike, a 125cc Ignitor bike and 110cc Maestro Scooter.
The company is focusing on scooter sales as it was seeing healthy growth from Pleasure which is selling 35,000 units a month. Maestro, on its part is expected to add to the volumes. In the 125 cc segment, Hero Motor have already lined up two strong brands, Super Splendor and Glamour. Ignitor would add to volumes in the segment.
The overall capacity across its three plants currently stands at 6.15 million units, which it is looking to enhance it to 6.5 million by end of the year. The company is also tapping new export markets.
Hero Motor is also looking at technology tie ups, with various kinds of options including partnerships and even setting up of assembly lines abroad on the table. Even as the arrangements are being worked out the company is quite bullish on the two-wheeler market in India, which is growing 15 – 16 per cent.
According to Pawan Munjal, managing director and chief executive officer, Hero MotoCorp, the two-wheeler industry had been doing very well. He added the industry had seen growth in the range of 15-16 per cent.
He added the company had been doing a little better than the industry average, despite the not so positive buyer sentiment with high interest rates, inflation and fuel prices.