Hero MotoCorp Ltd – country’s largest two-wheeler manufacturer – on Tuesday, announced starting the wholesales of its new premium motorcycle Xtreme 160 as the company seeks to expand its portfolio of premium motorcycles to compete with competitors like Bajaj Auto Ltd and TVS Motor Company Ltd. The new motorcycles will be available within a price range of ₹99,950 and ₹1.03 lakh.
In order to improve its market share and profitability, Hero is planning to launch a slew of products in the premium segment in the next few years. Premium motorcycles are lucrative for manufacturers since profit margin on these products are significantly more than the entry level ones.
“Ever since the Xtreme 160R was showcased at the Hero World 2020 event, we have been getting a very high number of requests for its commercial launch. The initial response for the motorcycle has been very positive and we already have inquiries to match the dispatches. We are confident that the Xtreme 160R will help us in scaling-up our presence in the segment," Naveen Chauhan, Head – Sales, After Sales and Parts, Hero MotoCorp.
The 150cc – 200 cc segment is the main volume driver in the premium motorcycle segment and is dominated by Bajaj’s Pulsar and TVS Motor’s Apache motorcycles.
Last year in May, the company expanded its offering in the above 200cc segment by launching three new motorcycles — Xtreme 200S, XPulse 200, and Xpulse 200T.
“Adding a striking and powerful new chapter to the popular premium brand Xtreme, the Xtreme 160R further strengthens Hero MotoCorp’s presence in the premium motorcycle segment. With its successful XPulse and Xtreme motorcycle brands, the Company is geared-up to make a compelling appeal to youth across the globe," the company said in a statement.
In addition to premium motorcycles, the Pawan Munjal lead company is also focusing on the premium end of the scooter segment i.e. the 125 cc range of scooters.