Mahindra Two-wheelers, which launched a 110-cc bike 'Centuro' on Monday, 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.
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