Hero MotoCorp to launch 8-10 products, refreshes this year
India's largest two-wheeler manufacturer Hero MotoCorp plans to launch 8-10 new products and refreshes this financial year (FY13). It has already launched the Ignitor motorcycle and Maestro scooter this year.
September 06, 2012 / 21:04 IST
Moneycontrol Bureau
India's largest two-wheeler manufacturer Hero MotoCorp plans to launch 8-10 new products and refreshes this financial year (FY13). It has already launched the Ignitor motorcycle and Maestro scooter this year.The company, which also makes the Splendor and Passion motorcycles and Pleasure scooter, ended its partnership with Japan's Honda in 2010. Hero is now working on new model built completely by itself and Hero designed products are likely to enter the market by the end of March, the company says.Hero MotoCorp's managing director Pawan Munjal on Thursday said the company has signed an agreement with a European design and technology partner. Since its break up with Honda, it has already signed a pact with US-based super bike maker Erik Buell Racing and a research deal with Austrian engine maker AVL.Two-wheeler makers in India, except Honda Motorcycle and Scooter India, have seen sluggish sales in the past few months due to the overall slowdown in the economy. Hero MotoCorp's sales in August slipped 12% to 4,43,801 units. The company said it has corrected production volumes due to the retail slowdown.However, the company is very optimistic of the upcoming festive season and will decide on annual volume target post Diwali.Honda Motorcycle and Scooter has become very aggressive in the domestic market and is taking its erstwhile partner Hero head on with its Dream Yuga motorcycle. Honda is already a market leader in scooters.Hero MotoCorp, meanwhile, is looking at overseas markets to push its growth ambitions. It has already entered Sri Lanka and plans to begin motorcycle sales to Guatemala and Nigeria by 2012-end.India's second largest motorcycle maker, Bajaj Auto, is very strong in Africa, particularly with its entry-level bike Boxer.Hero shares closed down 1% at Rs 1,790 on NSE on Thursday. Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
