On Friday, Honda Motorcycle & Scooter India (HMSI) announced the launch of Honda Livo 110c motorcycle to compete with the former partner Hero MotoCorp in the entry level motorcycle arena. It is the latter that is dominating the two-wheeler market with its high share.
Honda Livo 110c motorcycle from HMSI is the fourth model that has been launched in the segment and it caries a price tag ranging up to Rs 55.489 as per the ex-showroom pricing in Delhi.
At present, the manufacturer sells three Dream series models including Dream Yuga in the segment of 110cc two-wheelers. Hero MotoCorp that is the market leader in this segment has six models in its portfolio in this segment.
Regarding this, HMSI’s President and CEO, Keita Muramatsu claimed that Livo is the raiser of the aggressive pace of Honda of exciting and new motorcycle models in India. The manufacturer will keep up its promise of launching 15 new motorcycles in the country this year, he assured.
Talking of the Livo, the vehicle will be a bigger presence of Honda felt in the entry level market segment. Regarding the same, Y S Guleria, Senior Vice President of Sales and Marketing at HMSI stated that Livo was developed by the manufacturer with the 100-110 cc displacement segment that is the segment that a majority of the customers in the country opt for their first bike.
There is a great demand from the youngsters and this segment has about 42 percent of the two-wheeler market in the country. Hence, it is a must for the manufacturers to have a significant presence in this segment.
The two-wheeler sales in the country made up to 13,07,710 units in the month of June 2015. Back in 2012, HMSI forayed into the entry level segment with its Dream Yuga model. Gradually, the manufacturer built its market share to eight percent, but there was a sudden drop recently.
The market share of Hero MotoCrop is over 71.26 percent in the entry level segment in the second quarter of this year with 12.53.594 units. On the other hand, that of HMSI is 5.83 percent with 1,02,728 units. The overall sales in this segment was 17,59,153 units in the same time frame.
The manufacturer is targeting the students, young entrepreneurs and executives with the 110cc Livo. The model will be available in two variants that are priced at Rs 52,989 and Rs 55,489 respectively.
