Kolkata, Jul 26(UNI) With an eye on the top end market, Honda Motorcycles and Scooter India (HMSI), a hundred per cent subsidiary of Honda Motor Company of Japan, plans to launch two models in the big motorbike section with a price tag of over Rs one million by the end of this fiscal.
''Both these models will be priced at more than Rs one million as we are targeting a niche market in the top end segment. This market may not be big, but it is very strong,'' HMSI President and Chief Executive Officer Shinji Aoyama told a press conference today at the launch of the company's 125 cc bike, CBF Stunner.
He said the company's plan was based on its findings that there was a narrow but strong market for the high priced two-wheelers in the country.
Mr Ayoama said apart from the 125 cc variant and the two models in the top-end category, the company would come out with another model in the small two-wheeler category by the end of this fiscal, ''We've set a target to sell 80,000 pieces of the 125-cc variant we have already launched in the remaining nine months of the fiscal.
It will be eight per cent of our total sales target of 900,000 this fiscal. The four models taken together will be ten per cent of the turnover,'' he said.
The company, which at present has 11 per cent market share, hopes to increase it by two per cent after 2009-10.
In reply to a question on the possible impact of Tata Motors' Nano car on the country's two-wheeler market, he admitted that such cars would make some dent in the two-wheeler market in future and the growth of the two-wheeler sector will also slow down.
'' But then two-wheelers are not only a mere means of transportation, they are more than that. They are fun to ride, and also a means of enjoyment. So, the demand for two-wheelers will always be there,'' the CEO said.
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