Hero aims to improve its market share in the premium segments with new launches spanning different categories.
On the back of a series of new launches like the Xtreme 125R and the Mavrick 440, Hero MotoCorp aims to improve its market share in the premium and mid-size segments. The company will be launching the hotly anticipated Xoom 125R and Xoom 160 maxi-scooter in India toward the second half of the current financial year.
- Hero manufactures, handles distribution of the Harley-Davidson X440
- Production of Xtreme to be increased soon
- Xoom 160 is a liquid-cooled ADV-esque maxi-scooter
Hero MotoCorp’s core strength has been in the entry-level, 100-110 cc segment and had been struggling in the premium market due to its limited offerings. However, the company shifted its focus toward 125cc and premium segments last year.
The automaker had the highest number of product launches in FY24, more in the premium and 125cc segments including the Xtreme 125R, Xtreme 200S 4V, Xtreme 160R 4V, the co-developed Harley-Davidson X440, Karizma XMR and the Mavrick 440.
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The management also noted that the company will strengthen its scooter portfolio with the launch of 125cc and 160cc variants of Xoom as well as a refreshed model of the Xoom 110 in the first half of the financial year.
Hero MotoCorp’s CEO Niranjan Gupta believes that these new launches and expansion of new format stores – Premia and Hero 2.0 – will drive the volume growth and market share gains in premium and 125cc segments going forward.
The company is also increasing the production capacity of the 440cc platform and Karizma to 10,000 units per month in another one to two months. The capacity of the Xtreme will also be ramped up to 1,000 per day by June-July.
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“There would be a couple of more (products) that will come in. In terms of broad spectrum, Hero MotoCorp will largely cover the big white spaces (in ICE two-wheeler) by the end of March 2025,” Gupta said.
“Going forward, we will consistently grow volumes, thereby operating leverage, and aggressively grow our premium portfolio,” the company’s management said in a post-earnings investor call.
