Hero Honda CEO downplays Nano impact on two-wheelersMarch 26th, 2009 - 7:09 pm ICT by IANS
New Delhi, March 26 (IANS) Hero Honda, India’s largest two-wheeler manufacturer, Thursday said the launch of the Rs.100,000 Nano will not eat into the two-wheeler market.
“There will be no impact of Nano on the two-wheeler market,” Hero Honda managing director and chief executive Pawan Munjal told reporters on the sidelines of the annual conference of the Confederation of Indian Industry (CII).
“The price of Nano is closer to a high-end bike, so it will not have any impact on the low-end two-wheeler bikes market. And high-end motorcycles have very different kind of consumer base. So I don’t think even this segment will be affected by Nano,” Munjal said.
“Also, apart from the price, there is a fair difference between the cost of ownership and maintenance of Nano and two-wheelers,” he added.
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