Honda Motorcycle expanding premium bike sales network throughout India
By Atul Rajan
NEW DELHI, NNA - Honda’s premium motorcycle division BigWing is poised to expand sales network throughout India this year as it introduces more bike models to a growing niche market.
A company official told NNA that Honda Motorcycle & Scooter India Pvt. Ltd. (HMSI) is setting up over 22 BigWing dealerships this month and more in the next financial year starting this April.
It wil introduce five new bikes this year, adding to its current line-up of eight BigWings.
The aggressive move to establish sales outlets in 75 cities follows the launch of the first BigWing premium dealership last year in Gurugram and sales of 900 bikes in the current financial year which ends this month.
The subsidiary of Japan’s Honda Motor Co. is the second largest two-wheeler maker in India. It is also planning to produce some of the new bike models locally.
“We are targeting our sales network to be in double digit by the end of the next fiscal year (ending March 2021) from the existing single BigWing premium retail in Gurugram city,” Yadvinder Singh Guleria, senior vice president, sales & marketing, HMSI, told NNA on Thursday on the sidelines of the launch of the 2020 Africa Twin Adventure Sports, a premium bike, in New Delhi.
“Our exclusive network of BigWing outlets coming in the next few months will offer bikes in the range of 300cc to 1,800cc,” he said.
Guleria said the company aims to produce some of the premium bikes currently being imported.
“The plan is to expand mass production of select big bikes in India from its current CKD (Completely Knocked Down)/CBU (Completely Built-up Units) operations,” he said.
The sales of 900 units represented a 400 percent increase from the previous fiscal year. The growing demand for premium bikes was helped by factors such as rise in disposable incomes and better road infrastructure.
According to HDFC Bank Investment Advisory Group’s report last year, the premium bike segment contributed about 14 percent to total two-wheeler sales in the country.
HMSI, which has a market share of around 27 percent in India’s two-wheeler segment, recorded total sales of over 4 million units in the first nine months (Apr-Dec) of the current fiscal year (FY19-20).