The transfer may very well be seen as a part of Honda’s plan to have a wider vary of merchandise outdoors of its key strengths in making scooters and reasonably priced bikes.
“It’s the starting of Honda’s new period of portfolio growth catering to a variety of shoppers in India,” stated Atsushi Ogata, Managing Director, Honda Bike & Scooter India.
HMSI may also be launching a number of high-end bikes beneath its Large Wing vertical and localise the manufacture of a few of these automobiles, the corporate stated prior to now.
The corporate has made a number of makes an attempt to seize the high-margin 150-200cc motorbike section. TVS Motor Firm and Bajaj Auto dominate this section with their Apache and Pulsar vary of bikes, respectively. HMSI’s Unicorn, Hornet, and X lade vary of bikes did not impress the consumers prior to now. The unique Hornet was discontinued after the BS-VI emission norms had been enforced since April this yr.
HMSI bought about 67,000 bikes on this section throughout FY20, accounting for 8.8% of the market. TVS and Bajaj account for 47.7% and 24.2% of the gross sales on this section, respectively.
“With its superior expertise and thrilling efficiency, new Hornet 2.Zero is ready to create a brand new benchmark among the many younger motorbike fanatics,” Ogata stated.