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Mahindra Two Wheelers Ltd plans to focus on rural markets to tap the potential for executive motorcycles.
With 100-110 cc bikes accounting for about 60 per cent of the motorcycle market estimated to be about 8.5-9 lakh per month, the company, a relatively late entrant, sees this as a big opportunity in rural areas.
The diversified Mahindra & Mahindra Group will leverage its big presence in the rural market with its farm equipment division including tractors, to tap into the rural market where executive bikes continue to be popular.
Dharmendra Mishra, Vice President, Mahindra Two Wheelers Limited, said, “The company will provide a wider range of bikes f
or consumers to select from. The company R&D centre is playing a vital role in tapping into various segments.”
Launching the company’s new entry-level variant of Pantero, a 110 cc motorcycle in Hyderabad, he said within couple of months they expect to go pan-India.
The company will also launch Centuro in the second quarter of this financial year.
Referring to the general slowdown in the market, he said demand is likely to pick up during the festive season. The second half this year is expected to fare better than the first half.
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“We are working on several platforms and expect to roll out new models depending upon what the consumers want. This is just the beginning of a long journey. The company began with scooters. With entry into the motorcycle segment, the company will be able to address a much bigger market,” he said.
The Pantero is priced in the range of Rs 40,599 to Rs 44,599 for four models, all ex-showroom.
rishikumar.vundi@thehindu.co.in
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