India's second and third largest two-wheeler manufacturer, Honda Motorcycle and Scooter India (HMSI) and Bajaj Auto have increased prices for their two-wheelers. Honda has placed a hike of Rs. 200 to Rs.800 for its different models, while Bajaj made some increase ranging from Rs. 300 to Rs. 500. The price hike is despite the subdued growth of the whole Indian two wheeler industry.
However, Honda has shown a growth of impressive 31% in the Financial Year 2012-13. So it is expected that a severe price hike won't affect the sales of the company at any cost. Honda had earlier proclaimed that the company would become the no. 1 player in the Indian two-wheeler market. Meanwhile, Bajaj is having some bad time. The company has graphed a decline of 10% growth in the month of March comparing the same month last year. It is yet to witnessed how the customers welcome the price hike of the Pune Based company. Notwithstanding, India's largest two-wheeler company, Hero MotoCorp that has shown mere declines in growth hasn't revealed a hike yet.
Honda had recently unveiled couple of motorcycles, CB Trigger, and Dream Neo in the country. The Trigger comes with a 140.1cc, Air Cooled, 4 Stroke, SI Engine. It produces maximum power of 14 HP @ 8500 RPM and maximum torque of 12.5 Nm @ 6500 RPM. Its engine is mated with a 5- speed constant mesh transmission. Concurrently, the Dream Neo is a new version of the Dream Yuga. It is mated with a 109cc, Single cylinder, four-stroke, SI engine. It generates a peak power of 8.25 bhp @ 7500rpm and peak torque of 8.63 Nm @ 5500 rpm. It is coupled with a 4 speed constant mesh transmission.
Commenting on price hike, Mr. Y S Guleria, Vice-President (Sales and Marketing), at HMSI said, "We have hiked the prices of all our models by Rs 200-800 from April 1. It is done mainly because of the impact of diesel price increase in recent times. Besides, recently insurance charges also increased. So, finally we decided to pass on some burden to the consumers."
"In its relatively short journey, Honda has Connected, Communicated and Created for India. In FY,13-14, HMSI aims an overwhelming 43% jump in its sales based on introduction of new products and rapid expansion in all fronts from production capacity to network & manpower. Now, as Only Honda in India, HMSI is committed to continue realizing ‘The Power of Dreams, of Million Indians in future too," said Mr. Keita Muramatsu, President & CEO at Honda Motorcycle & Scooter India Pvt. Ltd. on the growth of the company.
The hike is up to Rs. 800.
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