 "Mahindra to launch 300cc bike Mojo by end of FY15")
The bike was show-cased during the Auto Expo earlier this year and according to industry sources it was also showcased to dealers in August. Dharmendra Mishra, vice president, sales and customer care, Mahindra Two Wheelers Ltd said that the company was planning to launch the 300 cc bike Mojo within this fiscal.
The bike could be launched sometime in March 2015, say dealer sources. The company is steadily working towards gaining a foothold over the 14 million two-wheeler market, which is dominated by motorbikes. Mahindra has sold over 68,000 units in the first five months of this fiscal up to August, up by around 37 per cent, bettering the industry growth rate of 15.7 per cent during the same period.
The company already has two bikes, Centuro and Pantero selling in the market and has recently launched the Centuro Rockstar, a more affordable version of its commuter bike Centuro. The Mojo would, however, be positioned as a more premium bike competing with the likes of Kawasaki Ninja 300R, the Honda CBR250R and the KTM Duke 390.
While motorbikes are the volume segment in the two-wheeler space, scooters are growing at a faster rate. Mishra explained that while bikes have a larger base (selling around 900,000 units per month), the scooters segment is growing faster, at around 20 per cent. Volume-wise scooters sell around 300,000 units a month, he added.
Further, close to 90 per cent of the automatic scooter market in India are 100 and 110 cc scooters. The company hence launched its new offering in the segment, Gusto here in Ahmedabad today. Mishra explained that the product has been developed over two years with an investment of close to Rs 65 crore. With features like adjustable seats, find-me lamps, guide lamps, quick storage compartments, and priced aggressively at Rs 45,603 (starting price ex-showroom Ahmedbad), the company expects the scooter to be a runaway hit this festive season.