Hero MotoCorp launches Splendor iSmart 110

The country's largest two-wheeler maker Hero MotoCorp today launched its first in-house designed and developed motorcycle, Splendor iSmart 110, priced at Rs 53,300 (ex-showroom Delhi).
Built on a completely new chassis and frame with a brand new engine, the new model has been developed at the company's Centre of Innovation (CIT) in Jaipur.
"With the launch of the all-new Splendor iSmart 110, we have achieved yet another significant milestone in our solo journey," Hero MotoCorp Chairman, Managing Director and CEO Pawan Munjal told reporters here.
The launch comes on the heels of the successful launch of the first range of indigenously developed scooters last year, he added.

"I can proudly state that Hero MotoCorp possess a self-sufficient in-house capability to develop new products for our global customers," Munjal added.
The Splendor iSmart 110 features a BSIV compliant new engine, which offers 9 per cent more power with a higher fuel economy. The new bike doesn't have any legacy technology of Hero's erstwhile partner Honda.

In 2010, Hero Group had parted ways with Japan's Honda after 26 years of running their successful joint venture Hero Honda. Since then the Indian company has been focusing on developing in-house products.
Besides the domestic market, the company plans to export it to other global markets. Currently, the iSmart Splendor is exported to 11 countries.

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Munjal said due to slowdown in the global markets where it has expanded, sales have not been as per expectations and the company will reassess its targets.
"Since we have gone to Africa and Latin America, numbers have not panned out as we have planned. The first two-three years have not done as expected. As of today, we have not revised our targets but yes we will sit down and have a re-look at it," he said.
Most of the markets that the company expanded into are oil-dependent economies and the global crude price fall has affected demand from those countries, he added.

In 2013, the company had announced that it was aiming to sell around one million units -- around 10 per cent of its annual sales -- in global markets by 2017.
In fiscal 2015-16, the company had sold a total of 66,32,322 units as against 66,31,826 units in the previous fiscal.
Commenting on the domestic market, Munjal said a good monsoon coupled with the 7th Pay Commission will help in boosting demand for two-wheelers.
"I would imagine that the impact of a good monsoon will come late in the year. We expect the second half of the fiscal to be better than the first and sales will pick up around the festive season," Munjal said.

The company has also lined up a "fair number of models" across the segment, he said, adding "the next model launch will be around the festive season".
When asked about future models that the company was developing with US-based Erik Buell Racing (EBR), which went bankrupt, Munjal said: "All the products are under review."
Hero MotoCorp and EBR were in the process of developing a 250cc bike and a scooter.
On the use of Honda technology, he said four models -- motorcycles Impulse, Passion Xpro, Ignitor and scooter Maestro -- have a licence till 2017, after which Hero MotoCorp will use its own technology.

While he did not share specific details, Munjal said with the company focussing on in-house product development, it will be coming out with its own designed and developed models across all segments.