Hero MotoCorp plans new launches; eyes double-digit growth
Hero MotoCorp plans to launch new 125cc scooters and Xtreme 200R motorcycle in September-October with an eye on double-digit growth
New Delhi: Two-wheeler market leader Hero MotoCorp plans to launch new 125cc scooters and Xtreme 200R motorcycle in September-October with an eye on double-digit growth in festive season, company’s chairman and MD Pawan Munjal said.
The firm is also betting on good agricultural harvest on account of the normal monsoon across the country to drive market demand.
“We are preparing for a pre-festive launch of our new 125cc scooters and the premium motorcycle Xtreme 200R. These products could come by September or October of this year,” Munjal told shareholders at the company’s annual general meeting in Delhi on Tuesday.
He further said, “We will gradually build on our premium portfolio with a range of new products. One such differentiated product will be the Xpulse 200.”
Commenting on the company performance, Munjal said, “We have had a robust start to the year so far, with our all-time high quarterly sales coming in the first quarter.”
Hero MotoCorp sold 20,60,342 bikes and scooters in the April-June period, its all-time high quarterly sales, as against 18,11,343 units in the year-ago period.
“We are confident of carrying the growth trajectory forward through the festive season as well,” Munjal said while responding to a question from a shareholder on the company’s expectations from the festive season.
On growth expectations, he said, “We expect to grow at double digit in the upcoming festive season to top off our strong growth of the previous years.”
He further said, “The normal monsoon in most parts of the country, and the consequent agricultural harvest will keep the sentiments buoyant and help maintain our momentum.”
Munjal said economic growth, rural investments and initiatives such as minimum support price (MSP), and Mahatma Gandhi National Rural Employment Gurantee Act (MGNREGA) augur well for the future growth of the industry.
Replying to a question on the company’s plans on electric vehicles (EVs), Munjal said “we are currently working on a few projects—including connected two-wheelers—at our R&D facility, the Centre of Innovation and Technology (CIT) in Jaipur, and will be launching these products in the market at an appropriate time.”
Hero MotoCorp has already introduced the Xtreme 200R in the North-Eastern markets of the country and will soon have a national roll-out.
Another premium motorcycle that will be launched later this fiscal is the XPulse 200 adventure motorcycle.
Hero MotoCorp had showcased the XPulse motorcycle and the 125cc scooters at the Auto Expo—the Delhi Motor Show—in February this year.
Editor's Picks »
- Google Pay may be sharing payment details of customers with third parties
- Worried Jet Airways lenders likely to seek faster loan repayments
- Airtel vs Reliance Jio to play out next in regional content
- IL&FS plans fire sale of financial services unit
- 11 out of 21 IPOs listed in 2018 trading below issue price
- Pidilite’s shares hold their ground despite weak rupee and rising crude
- Automobile sector shares trip on rising risks to earnings growth
- Steel companies are taking a shine to their home market
- Investments in HDFC AMC shares are subject to regulatory risks
- Spot electricity prices: Seasonal spikes becoming structural issue