Hero Honda to launch new models

However, company sources said Hero Honda has started work on the project and asked the joint venture partner Honda Motors Ltd of Japan to design vehicles according to Indian conditions.

It has also provided feedbacks received from consumers and market to Honda Motors for developing new models, sources added. The proposed models would be technologically advanced than the existing 100 cc models and would not be as costly as quot;CBZquot; model, priced in the range of Rs 54,800-59,000.

Hero Honda has provided technical specifications to Honda Motors Ltd, sources said, adding the Japanese company would also survey similar products globally and incorporate some of the features accordingly.

In its bid to be present in every segment of the motorcycle market, the Rs 1,500 crore company Hero Honda also plans to develop new segments for its two-wheelers for catering to the needs of every kind of buyers.

It is considering to enter into the scooterate segment by introducing a low-priced motorcycle, sources said. quot;Strategy of the company is clear-cut positioning of vehicles and presence in each segment,quot; they said.

The company has also chalked out strategies to expand its market and penetrate into the rural market. It wants to increase its market share in the north India to 50 per cent from present 40 per cent, they said.

Hero Honda is facing tough competition from scooter manufacturers in the north Indian market which is traditionally a scooter market dominated by Bajaj Auto and LML Ltd with Suzuki also expanding its base.