The company on Tuesday unveiled two new models -- Maestro Edge and Duet, in the 110 cc category, thereby taking its product line to four vehicles.
Country's largest two-wheeler maker Hero MotoCorp, which has leadership position in the motorcycle segment, is now gunning for a dominant play in the fast growing scooter segment where its erstwhile partner Honda rules the roost.
"We are putting a lot of stuff to do that (leadership position). It's not going to happen overnight but we will keep improving our market share...but clearly the ambition, the objective, the target is to go for leadership and I use the word 'gun' for leadership," Hero MotoCorp Chairman, MD and CEO Pawan Munjal told reporters here.
He, however, did not share any timeline for achieving the leading position in the scooter segment.
"It is too early to say sitting here by when but the target is to do that (attain leadership in scooter segment)," he added.
As part of its strategy to enhance presence in the scooter vertical, the company on Tuesday unveiled two new models -- Maestro Edge and Duet, in the 110 cc category, thereby taking its product line to four vehicles.
The company's erstwhile partner Honda Motorcycle and Scooter India (HMSI) currently leads the pack in scooter segment. It's flagship scooter Activa alone has sold over a 1 million units during the first five months of the current fiscal.
Unfazed by the competition, Munjal said Hero MotoCorp is working to develop other models as well in the scooter segment.
"We have these two products, we have more in the pipeline. We did show some more stuff at the Auto Expo. Work is going on a whole lot of stuff," he added.
The company market share of around 52% in motorcycles and about 13% in the scooter segment.
On an average the company sells around 60,000 units per month between Maestro and Pleasure. Besides, the company also exports around 10,000 units a month.
Scooter sales were up 15.66% in August at 4,27,165 units as compared with 3,69,323 units in the year-ago period.
The company is already manufacturing scooters at Gurgaon, Neemrana and also gearing up to produce at the upcoming Halol facility in Gujarat, Munjal said.
Commenting on the segment, Hero MotoCorp Head Marketing, Sales and Customer Care, Ashok Bhasin said: "Scooter market is extremely penetrated at the moment and therefore given the low base effect and low penetration growth rates are going to be good. We do expect double digit growth in the vertical." Hero's market share in scooters is less than what it deserves, he said, adding that there is ample opportunity for the company to increase its share, he added.
Maestro Edge, which is priced between Rs 49,500 and Rs 50,700 (ex-showroom Delhi) will go on sale from October 13.
The roll-out of the second model Duet would follow thereafter. Hero did not disclose the price of the model.
"With the unveiling of the Duet and Maestro Edge on today, Hero has entered into the next phase if its exciting journey," Munjal said.
Both the models have been developed in-house keeping global customer in focus, he added.
"These new products are a testimony to our ongoing efforts to create a world class R&D ecosystem that will create products from India for the world," Munjal said.
Built on completely new engine and chassis platform, the scooter models were first showcased during the 2014 Auto Expo.
Maestro Edge has already made debut in the Colombian market. The scooters come with features like remote fuel lid, side stand indicator and front luggage box.
The company has been focussing on product development ever since it parted ways with Japan's Honda in 2011.
On the company's upcoming R&D Centre at Jaipur, Munjal said the facility would be inaugurated on January 16. The facility will house around 600 engineers.
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