LML Ltd will roll another mobike in the 110 cc segment next month.
To be priced around Rs 30,000, the vehicle will be targeted at the mass market, company sources said. This will be the economy version of the existing FX series of mobikes that the company launched a couple of months back. The company had earlier decided not to enter the lower end of the 100 cc category.
To be powered with the same 110 cc engine, the new model will save on the extra frills, its Adreno FX series of mobikes are endowed with. The model will also be lighter than the FX series, thus delivering more mileage.
LML had taken a conscious decision earlier not to enter the lower segment of the 100 cc category, although it was looking at the possibility of launching one in the 150 cc niche category.
Nevertheless, top on the priority list are two motorbikes in the 100 cc segment. The new motorbike will fill the gaps in LML's motorcycle portfolio and will directly compete with Bajaj Auto's Caliber and Hero Honda's Splendor.
The company would have cornered around three per cent market share in the motor cycle segment, if the sales trend of the last nine months remains steady for the rest of the financial year. LML expects to cross the Rs 1000 crore turnover this fiscal.
In 2003, LML hopes to become a Rs 1,300 crore company with a 15 per cent market share in the motorbike segment with its recent launches and products in the pipeline.
The company is also planning to launch two new scooter models this year in the next six months.
One of the scooters will be in the four-stroke category. While both the models will be in the 100 cc segment, LML will launch one model each in the popular segment of 100 cc and one in the segment that combines looks with economy. Officials from the company said: "We hope to sell around 14 lakh motorcycles per annum once all our models are in place."
