Hero Honda launches designer bike

AGRA, JAN. 8. India's largest motorcycle maker Hero Honda Motors has launched a four-stroke designer bike and said it would achieve a 30 per cent rise in turnover at Rs. 3,000 crores in the current financial year.

The new 100cc bike - Passion - a redesigned version of the company's highest selling model 'Splendor', has been priced at Rs. 46,235 (Ex-showroom, Delhi), Hero Honda Director and Chief Executive Officer Mr. Pawan Kant Munjal told reporters at the launch here on Saturday.

``We are also launching a new motorcycle model in April this year. Turnoverwise, we should end the year (2000-01), at Rs. 3,000 crores,'' he said. The company had posted a turnover of Rs. 2,300 crores in 1999-2000.

``A sum of Rs. 100 crore is being invested in this fiscal to improve existing motorcycle models and augment capacity,'' Mr. Munjal said. He said the company would cross the one million mark in motorcycle sales in the current financial year over sales of 7.3 lakh units in 1999-2000.

``This should improve our market share to 50 per cent this year against 47 per cent in the previous year,'' Mr. Munjal added.

`Passion' has been made to meet the current emission norms and sports a new specially designed silencer to meet the future noise norms,'' Mr. Munjal said.

Hero Honda Motors has said it has kept its options open for taking stake in the upcoming scooter venture of Honda Motor Company of Japan. Honda is setting up a plant in Gurgaon (Haryana) for manufacturing four-stroke scooters. Production is expected to start by May-end with an initial capacity of one lakh units.

- PTI

Send this article to Friends by E-Mail

Section  : Business
Previous : Satyam net up in Q3