- Hero MotoCorp is focusing on bringing premium motorcycles and scooters in both internal combustion engine and electric vehicle spaces.
It is no mystery that Hero MotoCorp has been vying for a share in the rapidly bulging Indian premium two-wheeler market. Despite being the biggest two-wheeler brand in India, Hero MotoCorp has been holding the crown in the mass-market segment, not in the premium space. However, in the last few years, the situation has evolved and Hero MotoCorp has started rolling out products that are premium and appeal to young consumers who seek to buy upmarket two-wheelers instead of mundane regular commuters. The company now aims for an even bigger share in the premium two-wheeler space.
PTI has quoted Hero MotoCorp’s CEO Niranjan Gupta saying that the company plans to drive more premium products in the Indian two-wheeler market. His comment comes on the back of the positive response the brand received for the Hero Mavrick 440, which is based on the Harley-Davidson X440. He also reportedly said that the company is working to create a winning portfolio in all segments. “There is path-breaking innovation underway at our state-of-the-art R&D Centres at CIT Jaipur and Tech Centre Germany to create a winning portfolio in all segments,” Gupta said.
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Gupta noted that in 2023, Hero MoroCorp launched a series of premium products, which boosted the portfolio. The company now wants to continue the momentum. For the premium products, Hero MotoCorp is keeping the option open in both the internal combustion engine-powered segment as well as the electric vehicle space. “We will continue to launch more premium products in the coming years,” he said, outlining the company’s focus on speed, scale, synergy, and simplification. “Our premium portfolio across ICE and EV will grow exponentially, with a line-up that is committed to innovation,” the company’s CEO further added.
Not only by launching premium motorcycles and scooters but also in an attempt to become a bigger and more upmarket two-wheeler brand, Hero MotoCorp is aiming to expand its accessories and merchandise businesses as well, as Gupta revealed. Also, the company is aiming to scale up its international market presence. Gupta noted that while Hero MotoCorp has a huge scale in the domestic market, it has also embarked on a similar journey to scale up its global business with a single-minded focus on the top ten markets. “Additionally, we are tapping into opportunities to scale up our accessories and merchandise business,” he stated.
First Published Date: 22 Jul 2024, 08:50 AM IST