Hero MotoCorp plans highest-ever number of product launches, focusing on premium segment
Hero MotoCorp, the country’s largest two-wheeler manufacturer, is preparing for a record number of product introductions this fiscal year, according to CEO Niranjan Gupta. The company aims to strengthen its market share, particularly in the premium bike segment, through these launches. With plans to expand its presence in the 125cc and premium bike categories, Hero MotoCorp is optimistic about its growth prospects and aims to enhance its market share across all segments.
Hero MotoCorp is set to introduce a significant number of new products throughout the fiscal year, marking the highest-ever number of launches in the company’s history. Gupta emphasized the company’s focus on the premium segment, targeting motorcycles with power ranging from 150cc to 450cc. This strategic approach aims to build a robust premium portfolio and capture a larger market share in this segment.
Hero MotoCorp-Harley Davidson Partnership: Hero MotoCorp’s partnership with Harley-Davidson is another significant development in its growth strategy. The company plans to launch its first bike under this collaboration during the current fiscal year. The partnership, formed in October 2020, allows Hero MotoCorp to develop and sell a range of premium motorcycles under the iconic Harley-Davidson brand name in India.
In addition to its focus on the premium segment, Hero MotoCorp is accelerating its plans for electric vehicles (EVs). The company aims to introduce its electric brand, VIDA, across 100 cities in India by the end of the current calendar year. Leveraging its extensive distribution network, Hero MotoCorp is determined to establish a strong presence in the EV market.
Despite various challenges, Gupta expressed confidence in the resilience of the Indian economy, which continues to be one of the fastest-growing major economies in the world. He highlighted that key indicators are moving in the right direction, and the company expects the two-wheeler industry to achieve double-digit revenue growth this year. With a positive economic outlook and a robust product lineup, Hero MotoCorp is well-positioned to capitalize on the anticipated growth in the market.