Honda ties up with Haryana Gramin Bank

Honda Motorcycle and Scooters India (HMSI) seems to be leaving no stone unturned to boost sales of its two wheelers and to wrest the industry top spot from erstwhile partner Hero MotoCorp.

With an eye on attracting rural and semi-urban customers, the company has entered into a retail finance tie up with Sarva Haryana Gramin Bank. The company says the agreement provides it access to over 50 lakh customers of the bank.

Earlier this month, HMSI launched its cheapest motorcycle on offer in India – the Honda CD 110 Dream at a price of Rs 41,100 ex-showroom Delhi.  The CD110 Dream is targeted at the entry-level commuter segment, and this is the largest chunk of the motorcycle market in India. 

During the last financial year, HMSI inked cooperative pacts with other lenders in states like Punjab, Rajasthan, Uttar Pradesh, Assam, West Bengal and Uttarakhand. With tie ups with banks in rural and semi-urban areas across the country, Honda hopes motorcycles like the CD110 Dream, as well as its bestselling scooter Honda Activa scooter will get a further boost in sales. Look out for robust sales figures from HMSI this fiscal as well.