Honda eyes small motorcycle market
By Kim Tae-jong
Honda Super Cub
Honda Korea Wednesday said it will more aggressively expand its motorcycle business here with the launch of the Super Cub, a step-through motorcycle that is the most produced motor vehicle in history.
“The Super Cub is a very significant model that has led Honda to become a global brand,” Honda Korea CEO Chung Woo-young said during the model’s launch event at Seoul Plaza Hotel. “Starting with the launch of the Super Cub, we will add more models to our current motorcycle lineup to meet sophisticated needs of local customers.”
Honda Korea previously concentrated on selling large capacity motorcycles but the firm will shift its focus to smaller capacity bikes such as scooters and cub models.
The size of the local motorcycle market was estimated at 87,000 vehicles as of last year. Sales of small motorcycles account for about 90 percent, and of that segment, 67 percent are scooters and 30 percent cub models.
“Last year, we sold about 6,000 motorcycles, a 30 percent increase from a year earlier. Behind the significant growth are sales of small capacity models. We think we can surpass 10,000 this year by launching new models and increasing sales networks,” Chung said.
Honda Korea will start selling the new model from July 1 but has not announced its price. The firm said the price tag will be in a similar range to cub models by its competitors, which is around 2 million won.
Honda’s sales target for the Super Cub is 2,000 this year, increasing to 5,000 next year.
Chung said the main target customers of the Super Cub are small business owners who use bikes for delivery, because fuel economy, reliability and loading capacity are the three main strengths of the Super Cub.
The model gets 63.5 kilometers per liter of fuel, much more economical than other cub models here, Honda said, and the model’s 55 year old history proves its reliability.
The firm will also launch a campaign to enhance the awareness of safe motorcycling.
The Super Cub has been in continuous manufacture since 1958 and is the most produced motor vehicle in history, with its production surpassing 76 million as of 2012. It is manufactured in 15 countries and sold in some 150 countries.