Nano won't affect Indian 2-wheeler sales: Hero Honda exec
Thu. March 26, 2009; Posted: 09:39 PM
NEW DELHI, Mar 27, 2009 (Asia In Focus via COMTEX) --
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PowerRating -- India's largest bike
maker, HERO HONDA MOTORS (BSE:500182), said the launch of the
Rs 100,000 (US$1,984) car 'Nano' will not have any impact on
the two-wheeler industry. "Nothing much has changed since the
unveiling of Nano at the Auto Expo except for the announcement
of prices. I still maintain it is not going to have any real
impact on two-wheelers," Hero Honda Motors managing director
and chief executive officer Pawan Munjal said Thursday.
* He said going by the price there is a fair difference
between the cost of ownership and maintenance of Nano and
two-wheelers.
* "The price of Nano is closer to a high-end bike, the buyer
for which is not a car customer," he said, however, adding that
there may be some two-wheeler buyers who are attracted to
Nano.
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