Annop Prakash, managing director at Harley Davidson India, expects a huge traction in sales with the launch of the Street 750. Not only is the Street 750 price aggressive, the value we offer to our bike buyers is unmatchable. Plus, we also offer financing facilities with two leading private banks, Prakash said, adding around half Harley Davidsons buyers get the bike financed.
Prakash said the increase in the number of competitors would increase the size of the market. Siddhartha Lal, CEO of Enfield India, agreed: It will ensure much more excitement in the segment.
Country's largest two-wheeler maker Hero MotoCorp unveiled two new 100cc bikes Splendor Pro Classic and Passion TR which will hit the Indian markets in next two months.
Besides, the company also showcased a 620 cc super premium motorbike 'Hastur' and two concept bikes 'SimplEcity' and 'iON'.
"The two bikes (Splendor and Passion) are ready to be launched commercially. Hastur, which will mark our foray into the superbike segment, needs more research before launch," Hero MotoCorp Managing Director and CEO Pawan Munjal told reporters at the Auto Expo.
Aiming to double its market share in the country, Japanese two-wheeler maker Suzuki Motor Corporation unveiled four new products, including about Rs 15-lakh V Strom 1000 bike and a 110 cc scooter 'Let's'.
At the 12th auto expo, the company also launched 250 cc Inazuma and 155 cc Gixxer, its flagship model for the Indian market.
While the scooter would be launched in April, Gixxer will hit Indian roads in July or August, Suzuki Motor Corporation India vice president Atul Gupta said.
However, V-Storm (priced at Rs 14.95 lakh) and Inazuma with a sticker price of Rs 3 lakh will be available in the market with the launch today, he said.
Awaiting a formal notification on quadricycle, Pune-based Bajaj Auto said it is ready to roll out its RE60 model once it gets a go ahead from the government.
"Two years back we had showcased the RE60, today we are ready for commercial production of this vehicle. We are just awaiting government notification," Bajaj Auto President Commercial Vehicles, R C Maheshwari told reporters here at the Auto Expo.
He said once the government notifies the quadricycle norm, creating a separate category, then it will take the company about 2-4 months for ARAI (Automotive Research Association of India) certification.
When asked how the vehicle would be priced, he said it would be announced at the time of commercial launch but it would be costlier than a three-wheeler. This will be available in fuel options of petrol and CNG.
India is the worlds largest motorcycle market after China. Though the industry is dominated by 100 cc to 150 cc bikes, sales of premium bikes (midsize and large) grew over 50 per cent in the first three quarters this fiscal.