Two motorcycle makers fell by 0.44% to 1.74% at 12:15 IST on BSE on concerns of increased competition after Honda Motorcycle & Scooter India launched its most affordable motorcycle, with an aim to increase share in the Indian commuter segment.
Hero MotoCorp (down 1.74%) and Bajaj Auto (down 0.44%), edged lower.
However, TVS Motor Company was up 0.69% at Rs 36.45.
The BSE Sensex was up 108.69 points, or 0.58% at 18,839.85.
Honda Motorcycle & Scooter India (HMSI) on Wednesday, 17 April 2013, launched its most affordable entry level motorcycle Dream Neo priced at Rs 43,150.
Developed specifically for the Indian customers, Dream Neo is powered by a 110-cc engine and the company claims that it will give a mileage of 74 km a litre.
Honda Motorcycle President and CEO Keita Muramatsu was quoted by media as saying that backed by new product launches and network expansion, HMSI aims to grow over 150% in 100-110 cc motorcycle segment in fiscal year 2014.
HMSI will also be expanding its sales outlets to about 2,500 by the end of this fiscal from 1,950 outlets.
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