2 min read.Updated: 19 Sep 2021, 11:00 PM IST Edited By Vivek Punj
Work is going on in full swing to launch a bike in the retro segment, which is almost one-third of the overall premium segment out of the profit pool, said Hero CFO Niranjan Gupta
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A retro-styled Harley-Davidson motorcycle will soon arrive in the Indian market, said its local partner Hero MotoCorp, as the latter looks to enter a very profitable segment in the premium motorcycle space.
Responding to a question on the future of Harley-Davidson in India during an analyst call, Hero MotoCorp CFO Niranjan Gupta said, “There are two legs to the Harley tie up strategy. One of course is that we are the sales distributors for Harley bikes in India. We have 14 dealers, around 30 touch points, and that is going well. The second part of the strategy is to launch a bike in that retro segment, which is almost one-third of the overall premium segment out of the profit pool."
After the American motorcycle manufacturer wrapped up operations in the country a year ago, the Indian two-wheeler major has been handling sales and service operations for it.
“I dare say that the segment probably has around 60 to 70 per cent of the profit pool of the premium segment, so that is the second leg of the strategy, to launch in that segment, and clearly Harley is an iconic brand and the work is going on in full swing on that," Gupta further added.
In September 2020, Harley-Davidson concluded its operations in India and similar smaller markets a decade after selling motorcycles in the country under its ‘Rewire’ programme. A month after, it entered into a partnership with Hero MotoCorp to sell its motorcycles in India. As per the licensing pact, Hero MotoCorp has the exclusive distribution rights of the Harley-Davidson motorcycle, parts and merchandise in India.
Under the agreement, Hero has been working to expand the network of Harley touch points in the country. It now includes 14 full-fledged dealerships and seven authorised service centers across the country. The company is now planning to bring back the H.O.G. (Harley Owners Group) events, with the next annual rally Goa scheduled between February 3-5, 2022.
Earlier this year, Hero MotoCorp opened bookings for 13 Harley-Davidson models priced between ₹10 lakh and ₹35 lakh (ex-showroom). Around 100 Harley-Davidson bikes, making up the first batch assigned to the Indian market this year, have been completely pre-booked.