Hero Motocorp Eyeing Honda's Scooter Share

With the launch of Maestro Edge and Duet, Hero Motocorp is eyeing to increase its market share in scooter segment from 14 to 20 percent. Presently, Hero dominates the motorcycle segment with 50 percent of market share followed by Honda and Bajaj. Recently, Maestro Edge became the company’s highest selling scooter till date, which clearly shows that Honda has finally got something to worry about in the scooter segment. Leading the segment since its launch, Activa achieved the mark of 10 million units sales earlier this year.

According to the company officials, the company has seen an increase in demand for Maestro and Pleasure while the newly launched Maestro Edge and Duet are expected to push the market share forward. During an interview with CNBC-TV18, Pawan Munjal, Chairman of Hero Motocorp confirmed that the company is looking for the every possible opportunity to increase its presence in the scooters as well. He also stated that the company has its presence in 25 countries and trying to double the figure by 2020. Hero Motocorp is in talk with the new countries such as Argentina, Nigeria and Mexico and its production facility in these countries may start anytime soon. In addition, the company is planning to explore other Latin American and African countries to extend its market.

Also Read: Honda Discontinued 3 Motorcycles in 2015

Earlier in the month of September, the company launched Maestro Edge followed by Duet in October. Hero Maestro Edge came with the price tag of Rs. 49,900 and Rs. 50,700 (ex-showroom) while Duet was priced at Rs. 48,400 and 49,900 for LX and VX variant respectively. Maestro Edge was introduced to target the male audience whereas Duet was brought as a unisex scooter.

Both Maestro Edge and Duet are equipped with in-house developed 110cc, air-cooled engines that deliver the power output of 8.31bhp at 3000rpm and the peak torque of 8.30Nm at 6,500rpm.

Also Read: Benelli TNT 25 vs Mahindra Mojo 300 vs KTM 390 Duke