First Hero-Harley co-developed motorcycle could launch in India by 2024
A premium motorcycle jointly developed by Hero MotoCorp and Harley-Davidson is likely to hit showrooms in India in the next two years, hinted the homegrown two-wheeler giant's CFO Niranjan Gupta. This launch will be a part of Hero MotoCorp's strategy to strengthen its position in the Indian premium motorcycle market, claims a report by PTI. Hero MotoCorp currently leads the Indian two-wheeler market with its range of 100cc-110cc products. However, the company has always been ambitious about the premium segment. It has been planning to drive in models in the category to bring in further volumes and enhance profitability in the 160cc and above categories.
The upcoming co-developed premium motorcycle will play a crucial role in that strategy. Regarding the upcoming co-developed motorcycle, Gupta said that the company is building a strong pipeline of premium motorcycles and will launch models in this segment yearly. He also said that over the next two-year timeframe, there would be multiple models in both the volume and premium segments. "Over the next two-year timeframe, you will see models which are in the volume segment and the profitable segment of the premium as well, including the platform that we are developing jointly with Harley," Gupta said further. Hero MotoCorp CFO also said that this product strategy would help the company to build market share in the premium segment and boost profitability over the medium term.
The homegrown two-wheeler major joined hands with the iconic American motorcycle brand Harley-Davidson in October 2020, a couple of months after the latter's announcement to exit India operations. This allowed Hero MotoCorp to cash on Harley's brand value and fuel its premium motorcycle dream while also giving Harley-Davidson's dealership and service network in the country a second life.
As part of the partnership agreement, Hero MotoCorp will develop and sell a range of premium motorcycles under the Harley-Davidson brand name in India. The Indian company will also take care of service and parts requirements for the Harley-Davidson motorcycles. Besides that, Hero MotoCorp will also sell the original Harley accessories and general merchandise, riding gear and apparel through a network of brand-exclusive Harley-Davidson dealers and its existing sales network in India as well.