Hero MotoCorp CEO Niranjan Gupta mentioned the corporate is gearing up for highest ever mannequin introductions this fiscal because it seems to be to consolidate market share particularly within the premium bike phase.
“We’ll have product launches each quarter of this fiscal 12 months. In all probability this fiscal, we’ll see the utmost variety of launches ever seen within the firm’s historical past,” Gupta mentioned in an analyst name.
As per a report by PTI, the nation’s largest two-wheeler maker plans to introduce its first product beneath the Hero MotoCorp-Harley Davidson tie-up through the 2023-24 monetary 12 months.
Hero Motorcorp has management within the price range bike phase (100-110cc). It’s seeking to improve presence within the 125 cc. The corporate can also be bullish on progress prospects this 12 months with plans to additional improve its market share throughout segments, Gupta famous.
“We’re excited in regards to the fiscal and count on to construct on our market share and margin restoration. We now have a bunch of recent launches lined up, and we might be launching new merchandise each quarter on this fiscal,” he mentioned.
He famous that there can be “numerous launches within the premium phase” through the course of the 12 months.
“There might be massive launches…which is able to then make sure that we are able to construct the appropriate premium portfolio and get our market share on that,” Gupta mentioned.
Through the analyst name, he said that the corporate is specializing in the premium phase bikes, with energy ranging between 150cc and 450cc.
The corporate has already introduced its accelerated plans to roll out electrical model VIDA throughout the nation with an purpose to cowl 100 cities within the present calendar 12 months.
“At Hero, we now have the widest and deepest distribution system within the nation, and we might be leveraging the identical to make sure our attain within the EV enterprise,” Gupta mentioned.
This fiscal 12 months, Hero Motorcorp may also launch its first bike beneath Hero MotoCorp-Harley Davidson partnership. Hero MotoCorp and American model Harley-Davidson introduced a partnership in October 2020 for the Indian market. As a part of the deal, Hero MotoCorp will develop and promote a spread of premium bikes beneath the Harley-Davidson model title within the nation.
Commenting on the enterprise outlook, Gupta mentioned the Indian financial system continues to be resilient and is among the fastest-growing main economies on the earth, regardless of varied challenges.
“All the important thing indicators are shifting in the appropriate path, and we count on the financial system to outperform most different international locations. Buoyed by the financial system and the opposite traits that we see, we do count on the two-wheeler business to clock double-digit income progress this 12 months,” he famous.
(With inputs from businesses)