Honda Korea targets 20% share in motorcycle market

Honda Korea targets 20% share in motorcycle market

Japanese automaker Honda Motor unveiled its new dual-sport motorcycle Africa Twin and concept trike Neowing here, targeting a greater share of the Korean market.

“We are aiming to sell 16,000 units this year to grab a 20 percent share in the local market,” said Seo Jung-min, an executive of Honda Korea, at the launch of the Seoul Motorcycle Show 2016, held on March 31.

Honda was the third-largest player in the segment with a 17 percent market share, following the two Korean makers — Daelim Motor and KR Motors. Daelim sold 36,000 units last year, while KR Motors sold 18,000 units.

At the motorcycle event, the Japanese automaker unveiled its dual-sport motorcycle Africa Twin and new hybrid concept three-wheeler Neowing.

CRF1000L Africa Twin, which is a long-distance explorer and works well on unpaved roads, is slated to be rolled out in the local motorcycle market in June, according to the company’s official. It delivers 94-horsepower with a twin cylinder engine, powered by a 998cc parallel twin.

Also unveiled was Honda’s hybrid-powered concept vehicle Neowing, which was the only trike at the event. It uses a four-cylinder boxer engine coupled to set of electric motors.

“More than 70,000 motorcycle local riders have used Honda’s bike for the last 14 years. We will continue to provide the best products at reasonable prices,” Honda Korea’s chief executive Jung Woo-young said at the event.

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