Mahindra to roll out Centuro bike in Q2

Mahindra Two Wheelers Ltd, the fledgling two-wheeler arm of the $15.9-billion Mahindra group, is gearing up to roll out Centuro, its second motorcycle model in the 110-cc segment, during the second quarter of the current financial year, according to vice president (sales and customer care) Dharmendra Mishra.

Launching its new entry-level variant of Pantero motorcycle here on Monday, he said the company was working on various platforms, including its flagship 300-cc motorcycle ‘Mojo’ and a 150-cc model.

“Whether it is 150-cc or 300-cc, our intent is to have a proper portfolio to be a player of substance or relevance in the two-wheeler market. We will be there at the right time,” he said while declining to draw any timelines.

Mahindra Two Wheelers, which had ventured into motorcycle business a couple of months ago, has its plant at Pithampur near Indore, with an installed manufacturing capacity of one million units a year. Its portfolio comprises five scooter models and two motorcycles, including the yet-to-be-launched Centuro. The company has committed to invest Rs 500 crore in research and development over the next five years.

Stating that the domestic motorcycle market was pegged at 900,000 units per month, Mishra said the 100-110cc segment accounted for almost 60 per cent of this. “It (100--110cc) offers space to everyone ... we are the fittest to survive.”

According to him, the Indian motorcycle market didn’t see much growth in FY13, with the later half of the year being almost flat. The trend has been depressed in the last three to four months of last fiscal. With an expected better monsoon and the rural market opening up, the motorcycle market is poised to grow and even touch 10 per cent this year, he added.

At present, motorcycles command almost 75 per cent share of the total two-wheeler market in India.