Mahindra launches 110cc motorcycle 'Centuro' at Rs 45,000
JAIPUR: Mahindra Two-wheelers, which today launched a 110-cc bike 'Centuro', sounded bullish on the two-wheeler space saying it will roll out 10 more new models and variants over the next 30 months and the 300-cc 'Mojo' by the end of the fiscal.
Though the 110-cc Centuro is priced at the lower-end, Mahindra is positioning it as premium bike and is offering a Rs 1,000 discount on the first 10,000 bookings from the introductory price of Rs 45,000, ex-showroom Delhi. The bike comes with a five-year warranty, he said.
With the Centuro, Mahindra has five models in its two-wheeler portfolio including the 110-cc 'Pantero'.
Launching the new bike, Mahindra Group chairman Anand Mahindra said, "The Centuro is a class-defining product that aims to address the inherent needs of the two-wheeler consumers and is testimony to our determination to emerge as a serious player in the high-volume commuter segment and resonates with our presence in the highly competitive Moto GP motorcycle racing championship."
Mahindra Two-Wheelers president Anoop Mathur said, "The company will launch 10 models, including new ones and variants over the next 30 months. For the immediate future, the company will be hitting the roads with its super premium bike the 300-cc Mojo by this fiscal end."
However, the company did not offer a sales target for the new bike.
When asked if he is confident scripting the SUV success in the two-wheeler segment after the failure of his first attempt, Mahindra defended his second attempt at the two-wheeler business saying, "I believe we now have a product which epitomises our reliability, durability and value for money offering to our customers."
Recalling the criticism he had received when he entered the auto space and bought out the scam-ridden Satyam Computers, Mahindra said, "Over the past several years, there has been no shortage of skeptics. I have heard them saying why we were investing huge money in an oligopolistic industry like the auto business.
"When we were entering the auto business I had heard the same word. But I am glad that I did not heed their advice. Similarly, for the Mahindra World City and the same for Satyam," he said.
On dealership expansion, Mahindra Two Wheelers executive vice-president Viren Popli said they would double its dealerships and service centres to 1,000 over the next six-eight months from the currently 400 and 500 respectively. Popli said the Centuro has been developed entirely in-house at it Pune facility.
Last week, Popli had told PTI that he had set a target of doubling exports over the next one year and is also looking at new markets overseas. "Currently, our exports contribute less than 10 per cent. But with our product portfolio expanding, we expect this to grow to 20 per cent over the next one year," Popli had told this agency.
The company currently exports its two-wheelers to the neighbouring Nepal, Sri Lanka and Bangladesh, and also to Cuba and Kenya, he had said adding they were also aggressively looking at other markets like Uganda, Nigeria, Tanzania in Africa and Brazil, Nicaragua, and Colombia in South America.
The company, which has 1-million plant at Pithampura near Indore, had reported a 36 per cent growth in its two-wheeler sales in May at 10,970 units compared.
Mahindra launches 110cc motorcycle 'Centuro' at Rs 45,000 - The Economic Times
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