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Hero MotoCorp, which is gearing to introduce 15 new and refreshed variants in two-wheelers over the next eight months, is confident of a double- digit growth in the current fiscal.
The company will launch 3 three new products — i3S technology-powered Super Splendour, Passion and Achiever — in the next couple of months.
“The first launch will be i3S Achiever and this 150-cc bike will be introduced next month,” said Pawan Munjal, CMD and Chief Executive Officer, Hero MotoCorp, here.
Across categoriesIn addition to thenew products, “we will come out with 12 products from September to the end of this fiscal. The launches will span categories across bikes and scooters,” he added.
The company sees strong demand coming from rural segment due to good monsoon this year. Supported by new launches and good rural demand, the company aims at a double-digit growth this fiscal.
Better rural incomes and improved monsoon are expected to drive volumes of price-sensitive bike segments like the economy and executive segments. Hero is expected to gain most due to its higher market share on the rural side.
The company had earlier projected a single digit growth for this year. In 2015-16, the company sold 6.4 million units (include both bikes and scooters) in the domestic market.
Gujarat plantMunjal said the company is preparing to commission Phase-1 operation of the Gujarat plant in the third quarter of this fiscal.
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