Hero MotoCorp on Thursday said it would launch three new scooter models and a variant by March 2016, a move that is likely to drive up competition in the country's scooter market.
While the first model 110 cc DASH will be rolled out in the first half of the next fiscal, the 125-cc DARE will hit the road in the second half of FY 15, Hero MotoCorp managing director and chief executive Pawan Munjal said.
Bollywood actor Ranbir Kapoor unveiled the three models at the Auto Expo 2014. Hero MotoCorp is the second-largest scooter maker in India.
FULL COVERAGE:Auto Expo 2014
However, the 100 cc ZIR model will be launched in the first half of the financial year 2015-16, Munjal said, adding a European style step-through variant of ZIR will also be rolled out.
"Having seen a much faster pace than the industry in the scooter market, we are rapidly expansing our scooter portfolio with the clear objective of attaining leadership in this segment as well. Our new range of models is a reflection of our strong technology prowess and determination to keep innovating in order to expand our global foot print," Munjal said.
Stating that today the scooter segment share in the over all scooter industry stands at 45 per cent as against 10 per cent at the time of Hero MotoCorp forayed into the scooter space, Munjal said, clearly the company has played a significant part in this growth.
Munjal said that the market is soon going to grow at 30 per cent and Hero MotoCorp will take full advantage of this growth.
Hero MotoCorp has scaled up the scooter production capacity to 75,000 from 60,000 a month from this quarter in view of the proposed launches of the new models, company's senior vice president for marketing and sales Anil Dua said.
Besides, the company also plans to scale up its customer touch points to 6,000 by this fiscal, he said.