Suzuki launches high-end bikes in India; plans to buy out JV partner
28 November 2008
Japanese auto major Suzuki Motor Corporation has rolled out its super premium bikes - the 1,340cc Hayabusa and 1,783cc M1800R - priced at Rs12.5 lakh each in India and said it plans to raise its stake in its Indian two-wheeler subsidiary to 100 per cent.
Suzuki Motor Corporation, which owns 74 per cent in its Indian two-wheeler joint venture, Suzuki Motorcycle India Private Ltd (SMIPL), plans to acquire the 26 per cent stake owned by its managing director Satya Sheel and his family.
Including an import duty of 100 per cent, Suzuki expects to sell the bikes - the Hayabusa (1,340 cc) and Intruder M 1800 R (1,800 cc) - at Rs12.50 lakh each (ex-showroom Delhi).
Suzuki hopes to ride the craze of youngsters for higher horse power and brand to increase sales of imported bikes and boost its market share, which at present is relatively small.
''We are confident that these bikes have a space in India and hope to sell over 300 bikes in the first year," Atul Gupta, vice president, marketing, Suzuki India, said, adding that the company has already received 38 bookings for the first consignment.
While these bikes may not make big volumes, there sure is a demand for these high-end bikes among the youngsters.
Suzuki is the third motor cycle manufacturer to launch its premium bikes in India, after Japan's Yamaha and Ducati of Italy.
Yamaha has already introduced its 1670cc MT01 cruiser and 1000cc R1 racing bikes, both in the Rs 10 lakh-plus bracket, while Ducati, which rolled out its Rs15-50 lakh bikes in India, hopes to sell at least 50 units a year.