Garware To Deal Hyosung Reentry Into India

By vicky.in

Published: Saturday, February 12, 2011, 12:21 [IST]

Garware Motors of India is yet to have a tie with the South Korean motor company for entry of Hyosung motorbikes in India. The Hyosung bike, to cost Rs5.5 lakh is expected during the coming April and the S& Motors will be investing Rs20 crore for installing a facility in Maharastra. Garware Motors said the Korean company will be providing the essential technical back up; assembling, sales and after sales service will be taken care by Garware. Initially there will be two versions Hyosung 650cc sports bike GT650R and 700cc cruiser ST& as imported CKD units for assembling here at 8 bikes a day. This is S"s second innings in India as it had earlier made business with a tie from Kinetic Motors for selling Comet 250cc, Aquia and GF 125. The deal could not prove to be successful and the company had to hand over its then assets to Mahindra in 2008.

The new bikes will be ready for delivery in April for which the orders will be taken from March and already there are 300 enquries. As the market has the potential the company aims to sell 2000 units in the first year of launch and the company feels that it is entering into the segment where there is no big player as of now. The Garware official said the top priority would be to erect brand equity made by pubic opinion and ground level activation. Focus will also be on after sales service in addition to product promotion campaigns. The strategy is to make a step by step process in the market and simultaneously there will be introduction of new models based on the market demand. Garware is in the market dealing with natural rubber and elastic rubber products in India.

Article Published On: Saturday, February 12, 2011, 11:40 [IST]

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