It is to be mentioned that currently Hero Honda has three manufacturing plants, two in Haryana and one in Uttarakhand, with a combined production capacity of over 5 million units per annum. The company, which is also partly owned by Honda Motor Company, which has nearly 60 per cent market share in the Indian motorcycle and scooter market (where more than 7 million units are sold annually), has sold more than 3.4 million units in the first nine months of the current financial year. Out of the three more launches that Hero Honda has planned for the fiscal, at least one will be a scooter, which is expected to be introduced shortly. While the company will increase its focus on the scooter and the premium motorcycle segment, it will also look at consolidating its position in the mass market motorcycle segment.

Hero Honda had earlier said in a statement that it has evinced interest in setting up a plant for manufacturing two- wheelers with an investment of Rs. 2,000 crore in South India. The company has been proactively promoting Hubli/Dharwad for their investments. The company had earlier been sending its technical team for evaluation in the first week of February, as mentioned in its statement.

Separately, NDTV has reported that Hero Honda has set itself an internal target of selling 5.6 million units for the next fiscal and also grow by 15 per cent. The television channel has also claimed that the company will be launching 13 new products over the next 12-18 months which includes four all new products with four major variants and five minor variants. Very recently, Hero Honda told reporters that it will produce over 4.5 lakh units of its two-wheelers during this fiscal. The company has also confirmed that its existing facilities at Dharuhera, Gurgaon and Haridwar will be completely utilised and will take a call on establishing its fourth manufacturing unit within the next six months.

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