Honda Motorcycle & Scooter India (HMSI) today expanded its executive segment bike portfolio under CB Shine range with the introduction of 125cc model CB Shine SP priced up to Rs 64,400 (ex-showroom Delhi).
The 15th product launched by the company this year, HMSI is aiming to sell around 3 lakh units of the new model in the next one year thereby taking the annual sales of the CB Shine range to over 11 lakh units per annum.
"CB Shine SP is an extension of the range. We are looking to sell 3 lakh units of the new model in the next one year. Currently, the CB shine sales stand at around 8 lakh units per annum," HMSI, Senior Vice President - Sales & Marketing, Y S Guleria told PTI.
CB Shine SP is priced at Rs 59,900 for self-drum-alloy, Rs 62,400 for self-disc-alloy and Rs 64,400 for combi-brake system variant (ex-showroom Delhi).
Powered by a 125cc 4-stroke engine, CB Shine SP comes with a five-speed gearbox. It also features one of the longest wheelbase in the segment and a higher ground clearance.
"With over 43 lakh happy customers, the legacy of Shine is undisputed. Though CB Shine enjoys 46 per cent market share, our plan is to further strengthen Honda's leadership position in 125cc segment," Guleria said.
HMSI President and CEO Keita Muramatsu said: "CB Shine SP is an extension of the 'new era of motorcycling' we had ushered in at the Honda RevFest 2015."
In February, HMSI had announced aggressive market expansion plan with 15 new launches during the year, while setting eyes on annual sales of 50 lakh units.
The company is investing Rs 1,000 crore to set up the plant at Gujarat that will have an annual capacity of 1.2 million units. It will have a total annual production capacity of 5.8 million when the Gujarat plant goes on full steam.
It currently has three plants at Manesar (Haryana), Tapukara (Rajasthan) and Narsapura (Karnataka).
