Gurgaon: Country's largest two wheeler maker Hero MotoCorp Monday launched an updated version of its premium segment bike Achiever 150, priced up to Rs 62,800 (ex-showroom Delhi), as it looks to enhance presence in premium segment.
The variant with drum brakes is priced at Rs 61,800 while the one with disc brakes is at Rs 62,800.
"The launch of the next generation Achiever 150 is a reiteration of our strong focus on developing new, technologically superior and youthful products across segments for our customers in India and across the globe," Hero MotoCorp Chairman, MD and CEO Pawan Munjal told reporters here.
A market leader in both 100 cc and 125 cc segments in the domestic market, the company is now looking at expanding presence in the premium segment as well and the latest model is a move in that direction, he added.
The bike comes with new BS IV compliant engine with Hero's patented i3S technology.
The company, which dominates the 100 cc and 125 cc segments with over 65 percent and 55 percent market share respectively, plans to introduce more models in the premium segment.
"This is just the beginning of a wide and vast effort in the premium segment.. there is a lot more to come," Munjal said.
The premium segment, however, makes a single digit contribution to Hero MotoCorp's overall motorcycle sales now.
"With new launches, we are confident of taking it to double digits," Hero MotoCorp Head, Sales Marketing and Customer Care, Ashok Bhasin said.
When asked if the company plans to phase out its scooter model Maestro on which it still has to pay royalty to erstwhile partner Honda, Bhasin said:"Maestro Edge has been received well and we plan to phase out Maestro (replacing it) with Maestro Edge in the coming quarters."
On festive season sales, he said that the company has posted over 35 percent growth during the Onam period and is set for a better run during the rest of the period across the country.