India's largest scooter maker Honda Motorcycle & Scooter India (HMSI) today said its bike sales will overtake scooter sales in the country in the next fiscal.
The company, which sold 12.7 lakh units of two-wheelers in 2009-10, is expecting to sell over 15 lakh units in the current fiscal, of which 50 per cent will be bikes.
"The market of motorcycles (in India) is much bigger than scooters'. In 2011-12, our motorcycle sales will exceed that of scooter," Honda Motorcycle & Scooter India (HMSI) President and CEO Shinji Aoyama told reporters here.
In the last fiscal, HMSI's motorcycle sales were at 5.2 lakh units and that of scooters were at 7.5 lakh units.
"This fiscal the break-up will be equal," he added.
Aoyama said apart from existing models, new launches will spur growth in the motorcycle segment. HMSI currently sells five bike models in the 100 cc to 150 cc segment in India.
The company today launched a new version of its 150 cc bike CB Unicorn -- CB Unicorn Dazzler, priced at Rs 62,900 (ex-showroom Delhi) to add to existing Unicorn, which is priced at Rs 59,285 (ex-showroom Delhi).
"The 150 cc segment of the Indian motorcycle industry has grown over twofold in the last three years and it is expected to grow at this rate. This new Unicorn will help us in achieving more market share in the coming days," Honda Motorcycle & Scooter India (HMSI) Operating Head (Sales & Marketing) N K Rattan told reporters here.
The Indian market for 150-180cc segment is currently pegged at about 11.5 lakh units per annum and the company is planning to sell 1.2 lakh units of the Unicorn series in 2010-11, he added.
Overall motorcycle sales in the country during 2009-10 stood at 73,41,139 units, while the scooter market is pegged at 14,62,507 units.
Talking about the company's export plans, Rattan said: "In last fiscal we sold about 80,000 units in the overseas markets and this fiscal we are targeting 1.15 lakh units."
The company exports mainly motorcycles and it sells in over 40 countries, including the Latin America, Europe and neighbouring nations.
HMSI is currently in the process of setting up its second two-wheeler plant in Rajasthan with an investment of Rs 500 crore. The plant will have an annual capcity of 6 lakh units. It will become operational by the second half of 2011.
The company's current plant at Manesar in Haryana has an annual capacity of 15.5 lakh units, which will be expanded to 16 lakh units by next year. When its second plant goes onstream, HSMI's total production capcity will be 22 lakh units annually.
