Garware Motors eyes sale of 2,000 Hyosung superbikes this year

“We are targeting a sale of 2,000 bikes this year. We are in the midst of expanding our dealerships — we at present have five which we plan to increase to 15 in the next three-months,” Garware Motors’ Managing Director,Diya Garware,told reporters.

The superbikes are priced between Rs 4.97-lakh and Rs 5.96-lakh (ex-showroom,Mumbai),she said.

The company plans to open five dealerships in Hyderabad,Cochin,Chennai,Ahmedabad & Chandigarh within next two-months.

The company has launched its GT650R (super bike),powered by a 650 cc engine,in two options for Rs 4.97-lakh (single colour) and Rs 5.13-lakh (double colour). It has also rolled-out a 700 cc cruise bike,ST7,for Rs 5.96-lakh.

“We are the first Indian company to launch superbikes in the 650-700 cc segments. We are happy to bring to India the Hyosung bikes by S&T Motors of South Korea. We plan to add their entire range of superbikes into our collection in the next three-years,” Garware said.

This is the second entry for the Hyosung brand in India. In 2004,the company,then known as Hyosung,had forayed into the Indian market under a different management.

In 2007,the Hyosung Motors Division was acquired by the S&T Group,which has retained the brand name ‘Hyosung’.

For its latest Indian venture,S&T Motors has formed a partnership with home-grown Garware Motors,which has invested Rs 20-crore to set up the assembly line at Wai with a production capacity of 8-10 bikes per day on a single shift.