Following the launch of its first mass market bike, Honda Motor Corp is now looking forward to more than double the share of its Indian operations in its revenue by year 2020. The company which had parted its ways with Hero Group (now Hero MotoCorp), is now looking forward to invest heavily (about 20 billion rupees) to compete more promptly with its former partner.
Aiming a rapid increase in the current market share, the company has recently rolled-out its first ever mass segment bike - Dream Yuga (110) – at Rs 44,642 (ex-showroom price). The bike will be competing with its former partner’s Splendor, which is currently the highest selling bike in the Indian market.
While speaking on the company’s future plans, Yadvinder Singh Guleria, marketing head for Honda India, said, "Our long-term target is to be the number one in India by 2020." He added that the company is aiming to sell 300,000 Dream Yuga bikes in the country in current financial year.
In the last financial year, the bike segment stood at more than 10 million bikes, out of which 70 percent was accounted by the commuter bike segment.