Hero MotoCorp on Monday said it was betting big on 110cc scooter market as the segment has the highest share of around 60 per cent in the overall scooters market right now.
“In scooters, the 100cc-110 cc continues to be the biggest segment with more than 60 per cent contribution to the scooter market... Today, 60-63 per cent of the market is 110cc which is a sizeable segment for us to participate in and satisfy the needs... it’s not about participating in a segment, but about creating a segment,” Ranjivit Singh, Chief Growth Officer, told reporters on the sidelines of a new launch here.
The company launched its new scooter Xoom in three variants — Sheet Drum (LX), Cast Drum (VX) and Cast Disc (ZX) — with an introductory price of ₹68,599, ₹71,799 and ₹76,699, respectively (all ex-showroom).
Singh said the company is looking to cash in on the rising demand for scooters as normalcy returns after the pandemic eases, adding that sporty continues to be the new growth driver for the scooter market and is the fastest growing sub-segment in the last three years.
With 50 per cent of of Indians below the age of 25 and more than 65 per cent below the age of 35, it is imperative this segment’s needs should be at the front and centre of every new development, he said, adding that the company will meet customer expectation as the market changes.
For now, Hero Xoom will justify its market share in the 110cc scooters market, and help grow Hero’s market share in the overall scooter market. Hero Xoom comes with a 110cc BS-VI compliant engine with peak power output of 8.05 BHP at 7,250 RPM and torque of 8.7 Nm at 5,750 RPM. It is equipped with features such as full digital speedometer with Bluetooth connectivity, caller ID and SMS updates, and key alerts such as low fuel indicator and phone battery levels. It also has features such as the side stand engine cut off, boot light and mobile charger in front glove box.
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