Mumbai: India’s top motorbike makers, Hero Honda Motors Ltd and Bajaj Auto Ltd , have cut prices on their entry-level 100 cc bikes to encourage sales during the festival season, officials said on Monday.
Hero Honda, India’s top bike maker, has cut the price of its CD Deluxe bike by Rs2,020 ($51) a spokesman said. This would be a limited offer for the festival season, he said.
The CD Deluxe is normally priced at nearly Rs36,000.
Bajaj, the No. 2 bike maker, has cut the price of its Platina bike by Rs4,000, S. Sridhar, chief executive of Bajaj two-wheelers, said.
“This is a limited-period offer, and we will take a call in due course if we should extend it,” he said.
The Platina is normally priced at nearly Rs39,000.
Bajaj, which recently launched the XCD 125 cc bike, has said it wanted to exit the low-margin 100 cc segment, which is highly competitive and dominated by Hero Honda.
Bike makers have seen sluggish sales in recent months as higher interest rates on vehicle loans have depressed demand.
Hero Honda and Bajaj are scheduled to report their fiscal second-quarter earnings later this week.