Pune Based Garware Motors, is now planning to have a joint venture with S&T Motors a leading South Korean motorcycle manufacturer. S&T Motors manufactures and sells high end motorcycles, scooters and ATVs under the brand name Hyosung. Currently Garware motors imports the Hyosung GT650R and Hyosung ST7 as CKD (Complete knocked down kits) from S&T Motors, assembles and sells in the Indian Automobile market. Now this joint venture between Garware Motors and S&T Motors for manufacturing the Hyosung range here in India with S&T will take down the cost of the motorcycles.
The launch of the Bajaj Kawasaki Ninja 650R at price cheaper than the Hyosung GT650R has changed the market conditions. Kawasaki Ninja 650R by Bajaj Auto Limited has launched at an ex-showroom price of Rs 4.57 Lakhs, which is lesser than the Hyosung GT650R’s 4.75 Lakhs. Now Garware Motors has come into action and are planning to reduce the price by increasing the local manufacturing of its motorcycles. As local manufacturing of Hyosung motorcycles will definitely help dropping the price of the Hyosung and help them to attract more customers. The company has come up with some of there upcoming plans which includes an investment of Rs. 8 crore for the marketing of Hyosung bikes in India and to bring down 6 more models by the end of 2013.
The Indian auto industry has already become a potential market for all the automakers around the world with a huge demand for premium motorcycles. Garware Motors, with its Hyosung high end motorcycles will soon register a significant share in the growing Indian automobile market.
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