Hero MotoCorp unveils new range of two-wheelersJanuary 4th, 2012 - 4:17 pm ICT by IANS
New Delhi, Jan 4 (IANS) Two-wheeler major Hero MotoCorp Wednesday unveiled its new range of two-wheelers, including a 110cc scooter Maestro and two motorcycles — the 125cc Ignitor and the 100cc Passion XPro.
“These are the second offerings from Hero MotoCorp after our amicable parting from Honda last year,” said Anil Dua, Hero MotorCorp senior vice president (marketing and sales).
The company had launched its on and off roader Impulse bike last year after parting ways with its long-time joint venture partner Honda.
“The new platforms have technological support from Honda, but a lot has come from our own research and development,” said Dua.
However, the company did not reveal the price range of the new products.
“The prices will be given at the time of the launch. We will launch the scooter later this month and the bikes in the coming few months,” Dua said.
According to Dua, the Maestro scooter would attract both male and female customers with its distinct features, while the motorcyles have been targeted towards office and college going customers.
The new scooter comes with an advanced swirl flow induction system, while the Ignitor is powered by a new generation advanced tumble flow induction technology engine.
Company chief executive Pawan Munjal said that the products were tailored for the Indian markets and are in line with the company’s future strategy. He said the company sold more than six million motorcycles in 2011.
“The new models clearly show our vision and strategy for the future, we will continue to develop more products which are meant for India to retain our leadership position and develop our own research and development capabilities,” Munjal told reporters here.
“Currently these products are meant for India. But I believe that the time has come now to go global as our engineers and technicians have the capabilities to develop products for foreign markets. We will do what ever is needed for exports like tieing up with a foreign partner or opening a plant abroad,” said Munjal.
The company is eying new markets such as Africa, Southeast Asia and Latin America and expects to generate 10 percent of total revenue from exports in the next five years.
Currently the company sells 98 percent of its total production of over six million motorcyles in India and two percent abroad.
The company said its production capacity will reach more than 6.5 million units per annum from its three plants, up from 6.15 million in April, 2010.
- Hero MotoCorp in technology alliance with Italian firm - Sep 13, 2012
- Hero MotoCorp ropes in new technology partner - Sep 06, 2012
- Hero MotoCorp Q2 profit rises 19.4 percent - Oct 18, 2011
- Auto firms bullish on electric vehicles after government plan - Sep 06, 2012
- Hero MotoCorp launches new motorcycle Impulse - Oct 17, 2011
- Hero MotoCorp ties up with Erik Buell Racing - Feb 23, 2012
- Hero Honda is now Hero MotoCorp Limited - Jul 29, 2011
- Hero MotoCorp to set up manufacturing plants in Africa - Mar 20, 2012
- Hero MotoCorp's July sales up 14.82 percent - Aug 02, 2011
- Hero MotoCorp's November sales up 27.4 percent - Dec 01, 2011
- Hero to merge investment arm with self, invest Rs.2,575 crore - Jun 04, 2012
- Hero MotoCorp expects sales to pick up in festive season - Sep 05, 2012
- Hero MotoCorp's August sales up 18.6 percent - Sep 01, 2011
- Hero MotoCorp's October sales up 1.32 percent - Nov 01, 2011
- Hero MotoCorp's September sales up 26.75 percent - Oct 03, 2011
Tags: amicable parting, development capabilities, distinct features, female customers, future strategy, indian markets, induction system, induction technology, leadership position, motorcyles, new scooter, parting ways, senior vice president marketing, technological support, technology engine, tieing, two wheeler, two wheelers, venture partner, vice president marketing