Financial Daily from THE HINDU group of publications
Monday, Nov 17, 2003
Financial Daily from THE HINDU group of publications Monday, Nov 17, 2003 |
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Corporate
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Announcements Hero Honda plans to launch new `Ambition' version Vipin V. Nair
New Delhi , Nov. 16 HERO Honda Motors Ltd plans to launch a new version of its 133 cc bike, Ambition, early next year in a bid to shore up sales, according to a top company official. "We are relaunching Ambition early next year with new looks," Mr Atul Sobti, Senior Vice-President (Sales and Marketing), told Business Line. Sales of Ambition, which was launched in September last year, hovers around 7,000 units a month against the targeted 10,000 units. In some months, sales even dropped to around 4,000 units.
Priced at Rs 44,612 (ex-showroom Delhi), Ambition faces stiff competition from bikes such as Bajaj Pulsar, Kawasaki Wind 125 and TVS Victor. Mr Sobti said that a customer survey carried out by Hero Honda found that Ambition evoked "precious little'' word-of-mouth publicity as users could not relate to its looks. The round headlamp and the `regal crest' incorporating speedometer as well as the sharp design of the fuel tank have not gone down too well with many buyers, the survey revealed. "So, we are making some changes in these areas. We will also come out with new graphics for Ambition." Mr Sobti expressed the hope that the relaunch would help increase sales to over 10,000 units a month. The company had launched Ambition as an offering for those who looking for a bike more powerful than 100 cc motorcycles, yet fuel-efficient and available at below Rs 50,000. The company, a joint venture between Japan's Honda and the Munjal group, recently launched new versions of its popular Splendor and Passion. In October this year, retail sales crossed a record 2.75 lakh units. Mr Sobti indicated that Hero Honda, having renewed its technological tie-up with the partner, would launch at least a couple of new models in 2004. The company had earlier announced that it had finalised product strategy till the year 2010.
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