Hero MotoCorp Plans to Launch a More Affordable Commuter

After Unveiling 15 new products yesterday, the world's largest two-wheeler manufacturer, Hero MotoCorp is planning to launch a more affordable commuter. Currently, the company has HF-Dawn as its cheapest bike starting at a price of Rs. 37,000. The company is developing a new entry level bike, which will be cheaper than the other bikes in the segment.

MD & CEO Pawan Munjal said, “We are working on a product below the HF Dawn but don’t expect a drastic reduction in price.” The company has an advantage of being a home grown company and has much more resources than other manufacturers in India. So they can develop a quality product at a comparatively lesser price than others. They might launch the new bike by the late 2014 at a price around Rs. 35,000.

Recently unveiled products including Karizma R, Karizma ZMR, Glamour, Glamour FI, Splendor Pro, Passion Pro, HF Delux and Dawn are cosmetically updated models. Whereas, Pleasure and Xtreme also received some technical upgradation with IBS and engine immobilizer respectively. They introduced two new variants, which are Splendor iSmart with i3S and HF-Delux ECO with low rolling friction tyres.

Hero says that right now they have only updated their existing range of products. However, they are going to display all new products including their hybrid scooter Leap at the Auto Expo 2014. “These new models have been engineered by Hero’s own R&D in the last 12-15 months. I believe this will bring freshness to the market. For those who have seen the market share swinging, let me assure you we are hugely confident of success. The changes may be small but game changing in technology,” Munjal said.

The company is expanding its global market presence and planning to enter new markets like Turkey and Egypt in the coming fiscal.

Source: The Financial Express