Now, this might very well be the Tata Nano of bikes! Hero MotoCorp, World’s largest motorcycle manufacturer, is planning to develop a low cost motorcycles that should retail at under INR 30,000. This new bike will target a new segment of the market, that of people who can only afford a used entry level commute bike.
It may be noted that Bajaj had earlier introduced the Bajaj BYK commuter motorcycle at approx. INR 30,000 but we all know what happened to this bike. Pawan Munjal, Managing Director of Hero MotoCorp said, “We believe that there is a very large mass of customers in that segment — at the bottom of the pyramid. We’re working on trying to come up with something, but it’s not easy with the way costs are going up. But, we will have something. We’ll be looking at prices which are much lower than where we currently are, otherwise it makes no sense. The market is for people who don’t have any (personal) transport at all. It’s easy to make something like a moped, but does that serve your purpose. A moped is not as successful in this country since it is not rugged and sturdy as per the usage our consumers — the kind of loading patterns and driving habits. We have to have a real motorcycle.”