Hero Honda, the country's largest motorcycle maker, today rolled out a new bike 'Splendor NXG' in the deluxe segment as it seeks to consolidate its market share in India.
The company launched two variants of 'Splendor NXG' with spoke or cast wheels carrying a price tag of Rs 40,990 and Rs 41,990 (ex-showroom Delhi).
The new offerings are part of the company's strategy to strengthen its foothold in the market, particularly in deluxe segment. Hero Honda has more than 50 per cent share of the Indian motorcycle market.
There was a gap of 100,000 units in overall bike sales between Hero Honda and Bajaj Auto and the company intended to increase it further with the new model, Anil Dua, Hero Honda Vice-President (Marketing and Sales) said here.
The deluxe segment constitutes slightly over half of the total market and Hero Honda has a share of about 67 per cent. The company offers other brands like Passion and Glamour in this segment. But Splendor is the largest selling, with sales of 1.1 million in 2006-07.
This would also increase competition with its closest rival Bajaj Auto, which offers bikes like Platina and Discover in the deluxe segment.