Hero eyes highest number of two-wheelers in 2023, including new Harley bike
- From budget segment to the premium bike category, India's largest two-wheeler manufacturer aims to increase its portfolio massively this year.
India's largest two-wheeler manufacturer Hero MotoCorp aims to launch highest number of models this year, including electric two-wheelers and premium bikes. Niranjan Gupta, CEO at Hero MotoCorp, said that the new bikes will include ones in the entry-level segment as well as luxury models. Hero also plans to introduce new electric two-wheelers under its latest brand Vida in the next few months. However, the biggest anticipation is around the first model to be produced jointly by Hero and Harley-Davidson.
Hero MotoCorp had tied up with the US-based two-wheeler brand Harley-Davidson for the Indian market back in October 2020. Hero has not given the exact timeline of when to expect the Hero-Harley premium model. As of now, it is only know that the new bike will come with a single cylinder 420cc engine. The new bike will rival the likes of Royal Enfield 350, Honda H'ness 350 and Bajaj Triumph 350cc, which is expected to be launched this year.
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Hero MotoCorp currently leads the entry-level bike segment in India which offers models with 100cc 110cc engines. The two-wheeler manufacturer aims to increase its portfolio from the 125-cc range to the 160-cc range. "We'll have product launches every quarter of this fiscal year. Probably this fiscal, we'll see the maximum number of launches ever seen in the company's history," Niranjan Gupta said.
Gupta added that Hero MotoCorp will launch a lot of new models in the premium segment this year. The new premium segment bikes will be offered in the power range of 150cc and 450cc. "We are excited about the fiscal and expect to build on our market share and margin recovery. We have a host of new launches lined up, and we will be launching new products every quarter in this fiscal. There will be big launches...which will then ensure that we can build the right premium portfolio and get our market share on that," he said.
Besides the regular ICE models, Hero MotCorp also wants to enhance its electric vehicle portfolio with the help of its new brand Vida. Hero Vida is currently aiming to extend its footprint across India with presence in more than 100 cities. "At Hero, we have the widest and deepest distribution system in the country, and we will be leveraging the same to ensure our reach in the EV business," Gupta said.
Hero MotoCorp is India's leading two-wheeler manufacturer with more than 5- per cent market share in the motorcycle segment. The company has increased its market share in the 125cc segment to 22 per cent in the fourth quarter.
