Indian two-wheeler manufacturer Hero MotoCorp is planning to launch three scooters by next fiscal to strengthen its position in the market.
Hero MotoCorp plans to introduce a new 125cc scooter in the fourth quarter of the current fiscal. Two more models will hit the market in 2018 or 2019. Currently, Honda dominates the scooter segment in the country.
Apart from that, Hero MotoCorp is also planning to take on the premium motorcycle segment. The company is expected to launch an all-new 200cc motorcycle which is likely to be the Xtreme 200S.
In the company's annual shareholders meeting, MD and CEO of Hero MotoCorp, Pawan Munjal said, "We have lined up half a dozen new products - across segments, including the premium and scooter categories - for launch in the next fiscal (FY'18) to drive our growth."
Hero MotoCorp retails three scooters in the Indian market - Maestro Edge, Duet (110cc) and the Pleasure (100cc). The company will strengthen its product portfolio by the addition of three new models.
Hero MotoCorp's rival company Honda has five scooters in its product portfolio. The Japanese company leads the scooter segment in India with nearly 60 percent market share. TVS is second with 15 percent share and Hero MotoCorp is in the third position with 12 percent share.
Hero MotoCorp's former partner Honda is leading the scooter segment in the country and Hero is looking to overtake its Japanese rival. Indian two-wheeler maker plans to introduce three new scooters which will strengthen its market presence in the country.