The company, which on Thursday expanded its mid-sized motorcycle range with the launch of CB Unicorn 160, sells a total of over 20 motorcycle and scooter models in the country.      

"CB Unicorn 160 despatches will begin in the third week of January, so it would be our first model of 2015. During the course of next year we plan to launch over ten models," HMSI President & CEO Keita Muramatsu said.      

Out of over ten product launches planned for the next year, seven would be completely new platforms while others would be upgrades of the existing models, he added.      

When asked about plans to launch low-cost models in the country, Muramatsu said, "We are working on two models, a bike and a scooter, but there is no definite time frame set for the project."

Honda sells a low-cost bike priced at around USD 600 (about Rs 37,500) in Africa.

"It is not easy to launch low cost bikes. I have learnt that in the last three years. It is not easy to go for cost reduction when more technology is needed. In the last three years the cost of production has gone up. Even our in-house cost has gone up by 15 per cent over the last year," Muramatsu said.

Commenting on the CB Unicorn 160, Muramatsu said the company is further strengthening its portfolio in 150-180cc motorcycle segment.

"This segment (150-180 cc) is the fastest growing segment in the motorcycle segment so it is important for us to be present in this style segment. We already have significant presence in the commuter segment," HMSI Vice President Sales & Marketing YS Guleria said.

HMSI currently has a market share of around 20 per cent in the segment, he added. The company sells CB Unicorn 150, CBR 150 R and CB Trigger models in the 150-180cc range. With CB Unicorn 160, the company's locally produced model range has gone up to 11.

Besides, the company markets five 1,000-cc plus bikes in the country which come as completely built units (CBUs). HMSI also sells five scooter models.

The CB Unicorn 160 will be available in two trims -- standard model priced at Rs 69,350 and the variant featuring combi-brake-system at Rs 74,414 (ex-showroom Delhi).

"We are confident that with CB Unicorn 160, we will drive customer demand and further strengthen Honda's position in the 150-180cc motorcycle segment," Guleria said.

HMSI sold 37 lakh two wheelers in 2013-14, with motorcycles accounting for 47 percent of total sales. The company has also set a target of closing the current fiscal with 3,800 touch points across the country.