World’s largest two-wheeler manufacturer Hero MotoCorp has confirmed the launch of at least 5 new two-wheelers in India in this ongoing financial year. In an investors’ conference call, Hero MotoCorp said that it has set a capital expenditure of Rs 2500 crore for next two years to further invest to increase its production capacity in India.
Upcoming Hero MotoCorp two-wheelers will include three new motorcycles and two new scooters. The company will launch the new Hero Xtreme, Hero Xpulse and a new refreshed 125cc version of Hero Glamour. Powerful versions of Hero Maestro Edge and Hero Duet scooters will also be launched in this financial year. Both Maestro Edge and Duet are set to get the powerful 125cc engine. These new products will also see a new strategy being implemented by the market leader. The company plans to further expand in the premium segment. While Hero dominates in the commuter segment in India, Its sales in the premium (125cc and above) space has seen a decline during last financial year.
During Auto Expo 2018 held in February, Pawan Munjal, Chairman, MD & CEO, Hero MotoCorp had said, “We have enhanced focus this year on two rapidly-growing segments – the premium motorcycles and scooters. Aligned with this strategy, we have showcased two new scooters and a dual-purpose motorcycle at Auto Expo, to be launched in FY 2018. Both these – the 125cc scooters and 200cc adventure motorcycle – are new segments at Hero MotoCorp. I’m confident of further expanding our market leadership with these new launches. ”
Honda Motorcycles and Scooters (HMSI) are leading in the scooter space and TVS Motor Company, Bajaj Auto with its respective Apache and Pulsar brand have a strong presence in the premium sportbike segment. Hero MotoCorp has over 51% market share in the Indian two-wheeler industry and is riding strong on sales of Hero Spendor, Hero Glamour and Hero HF Deluxe.
These new launches will further strengthen Hero’s position in both scooters and premium motorcycle space and will help the company to further improve upon its market share. The two-wheeler industry in India is expected to grow at over 10-12% this financial year and the market leader now plans to be aggressive with these new launches.
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