Adishwar Auto, the distributor of Benelli and Keeway motorcycles in India, announced substantial price cuts for the Benelli 502C, Leoncino 500, and Keeway K300 N models, effective February 8.
Price Reduction Details
Right now, the Benelli Leoncino 500 costs Rs. 4.99 lakh, reflecting a notable reduction of Rs. 61,000 compared to the 2023 variant. Similarly, the Benelli 502C sees a significant price drop of Rs. 60,000, now priced at Rs. 5.25 lakh. Additionally, the Keeway K300 N receives a price cut of Rs. 26,000, bringing its new price tag to Rs. 2.29 lakh. These revised prices are applicable across all 2024 models and are exclusive of showroom charges.
Market Response and Implications
The decision to lower prices suggests a strategic move to stimulate consumer interest in these models as evidenced by the perceived lack of demand. Despite boasting a respectable number of showrooms and an extensive after-sales network, Benelli and Keeway bikes require competitive pricing to appeal to the Indian market.
Potential Market Impact
With these price reductions, it is expected that consumer interest in Benelli motorcycles will increase, potentially leading to higher showroom footfall. The effectiveness of these price cuts in driving sales and revitalizing market interest remains to be seen but they represent a proactive step by Adishwar Auto to address consumer preferences and market dynamics.