Hero revs up premium bike segment
India’s largest two-wheeler company, Hero MotoCorp, is taking steps to widen its presence in the premium segment. It launched a refreshed variant of its premium motorcycle Achiever 150, priced up to ~62,800 (ex-showroom, Delhi) on Monday.
“This is just the beginning of a wide and vast effort in the premium segment. There is a lot more to come,” said Pawan Munjal, chairman, managing director and chief executive officer, Hero MotoCorp.
The company has a stronghold on the domestic 100cc and 125cc commuter bike segment with a share of 65 and 55 per cent, respectively.
It now aims to expand presence in the 150cc and above segment. Hero’s motorcycle range begins from ~40,000 and goes up to ~107,000.
Hero, which parted ways with Japanese partner Honda, had inaugurated its ~850 crore research facility on the outskirts of Jaipur in March this year.
This facility will serve as the hub for the premium segment and support innovation in the entry segment, which remains its bread and butter.
In July this year, Hero launched its first in-house developed motorcycle — Splendor iSmart 110. “There is a huge amount of work going on at the centre and results will be seen over next several months,” Munjal said in July.
Hero, which had seen a flat volume last financial year, has seen its sales grow 12 per cent in the first five months of the current year.
Hero sits on a 37 per cent share in the domestic twowheeler market (motorcycles and scooters combined).