Hero MotoCorp’s CEO, Niranjan Gupta, expects the domestic two-wheeler industry to achieve double-digit revenue growth in the upcoming fiscal year.
The company, reporting a total income of INR 10,031 crore in the current fiscal quarter, foresees increased demand for premium models. Gupta notes a shift toward premiumization in the domestic two-wheeler space, with buyers seeking feature-rich trims.
Furthermore, he highlights the recovery of the entry-level bike segment and improved demand in rural areas. Hero MotoCorp plans to upgrade sales outlets to sell premium segment models, with a focus on enhancing its presence in the premium sector.
Gupta mentions the positive signals emanating from the rural sector, expecting growth in the coming quarters. The company has already upgraded 300 dealerships, with plans to reach 500 2.0 stores and 100 Premia stores by the next year.
Hero MotoCorp aims to boost its premium portfolio with recent models like the Harley X440, Karizma, and the upcoming Mavrick 440. The company’s partnership with Harley-Davidson in 2020 plays a crucial role in developing and selling premium motorcycles in the Indian market.
Additionally, Hero MotoCorp plans to expand its VIDA products, targeting three price points within the first quarter of FY25 to enhance its market position and facilitate rapid scaling.
