NEW DELHI: Consolidating its position in the two-wheeler market would be the primary strategy of Hero Honda in fiscal 2007-08. The company that launched eight models in the last fiscal, will look at a slew of more launches and some facelifts in the current year.
Hero Honda's managing director Pawan Kant Munjal said, “We will work towards maintaining our current market share of over 50% and continue to focus on the 100 cc segment. We will also consolidate our presence in the two-wheeler space.”
The two-wheeler major also launched another model in the entry level segment - Splendor NXG. The bike is strapped with a new 100 cc engine and comes in two variants. While the spoke wheel variants is priced at Rs 40,990 (ex-showroom Delhi), the cast wheel variant is priced at Rs 41,990 (ex-showroom Delhi).
Stressing on the fact that the new model will not cannibalise its previous variants, he said, “Even though Splendor NXG is the new generation of this brand, both brands will continue to co-exist as different customers have different needs.”
Splendor has been Hero Honda's largest selling brand. Hero Honda V-P-marketing & sales Anil Dua said, “We believe that the new Splendor will further increase the sales tally of the brand this year.” There is a gap of 1,00,000 units in the sales tally of Hero Honda and Bajaj Auto and the new model is expected to push Hero Honda's sales further, he said.
“We have bucked the industry growth trend and have grown higher. We grew by 19% while the industry has grown by 11% last fiscal,” he said. The deluxe segment contributed about 67% to Hero Honda's total sales. Splendor, Passion and Glamour are the three top-selling brands in this segment for Hero Honda.