Hero MotoCorp

Hero MotoCorp announces price revision for motorcycles and scooters with OBD2, wef April 1, 2023Image – Jilani HeroLeading two-wheeler manufacturer, Hero MotoCorp announced a price revision of some of its motorcycles and scooters from April 1, 2023. This revision is due to the cost increase associated with the mandatory transition to On-board diagnostics (OBD) 2, a more advanced diagnostic system for vehicles.OBD 2 is a more advanced diagnostic system for vehicles, which is mandatory for all new vehicles sold in India from April 1, 2023. Implementation of this system requires the use of additional inputs. This has increased the cost of production for the company.Hero MotoCorp commits to providing financing solutions for customersHero MotoCorp has committed to providing financing solutions to help ease the impact of the price hike on its customers. This commitment is expected to maintain customer loyalty and prevent the price hike from negatively impacting sales figures. While the price revision may be a short-term setback for consumers, implementation of OBD 2 is expected to have long-term benefits for vehicle health.But naturally, cost of production has increased due to the use of advanced technology and additional components required for OBD 2. Hero MotoCorp’s price revision is pegged at about 2 percent, and will vary by specific models and markets. Exact models affected and to what extent are not currently specified.Cost increase due to mandatory transition to On-board diagnostics 2 (OBD 2)Despite the price revision, Hero MotoCorp is optimistic about the growth prospects of the two-wheeler industry in rural markets. Rural markets in India have been witnessing robust demand, which is a strong indicator of healthy crops. This growth momentum is expected to continue into the upcoming festive season towards the latter half of the fiscal year.It is worth noting that the cost increase due to the OBD 2 transition is not unique to Hero MotoCorp. Other automobile manufacturers in India are also expected to revise their prices upwards due to the same reason. Rising commodity prices and increasing input costs continually impact vehicle price hikes.Price revision not expected to negatively impact sales figuresThis price revision is a necessary step to maintain profitability and sustain the growth of the two-wheeler industry. While the impact on customers may be modest, Hero MotoCorp’s focus on financing solutions and growth momentum in rural markets are positive markers. And are expected to mitigate any potential negative impact and sustain the growth of the two-wheeler industry. More

Hero MotoCorp and Zero Motorcycles Collaboration for Premium Electric Motorcycles – Accelerating Transition to Electric MobilityHero and Zero join handsHero MotoCorp, the world’s largest motorcycle manufacturer, and California-based premium electric motorcycle and powertrain manufacturer, Zero Motorcycles announced their collaborative business intent a few months earlier. With focus on new premium electric motorcycles, necessary agreements have been signed. No doubt, this collaboration is essential for the future of Hero MotoCorp’s electric mobility outreach. Both companies aim to transform the EV riding experience and accelerate electric mobility transition in India and other global markets.Brand growth for Hero MotoCorp is increasingly pointing to new segments for the brand. This is a stark departure from its reputation as a trusted mass market motorcycle manufacturer. Development progress can be seen in the 421cc engine being evaluated for its Xpulse 420cc product lineup.Hero MotoCorp – Advancing Electric Mobility in India and BeyondHero MotoCorp is a giant in manufacturing, sourcing, and marketing. Zero Motorcycles is known for its expertise in developing powertrains and electric motorcycles. Their collaboration will benefit both companies by combining their respective strengths. Tapping into these strengths streamlines processes from the word go. Most essentially it saves essential time to help get into a segment/space as an early mover. For Hero, this is the premium electric motorcycle segment.Currently Hero Motocorp’s EV market strengths are focused on the VIDA brand. Having launched its first EV, VIDA V1 scooter, and public charging infrastructure in Bengaluru, Delhi, and Jaipur. About 300 charging points are set up for public use.Equity Investment in Zero Motorcycles: A Strategic Move by Hero MotoCorpIn September 2022, Hero MotoCorp’s board approved an equity investment of up to US$60 million in Zero Motorcycles. This investment is significant and highlights the importance of this collaboration. Projections today emphasise that the future of mobility lies in electric vehicles. And Hero MotoCorp and Zero Motorcycles could lead the way considering the magnitude of monthly sales Hero is responsible for. They have a range of initiatives in place to advance electric mobility and transform the riding experience.Zero Motorcycles’ technology, combined with traditional motorcycle design keeps riding experience at the forefront of design synergies. Hero MotoCorp is committed to introducing remarkable, innovative products that offer exceptional value and performance-based fun in riding. Royal Enfield has made a strategic investment in Stark Future SL, a Spanish electric motorcycle manufacturer. Business fortitude is key in tapping into what the future of mobility will shape into in a few short years.Milestones in Sustainable Clean Technology: Hero MotoCorp and Zero Motorcycles’ CollaborationZero Motorcycles’ partnership with Hero MotoCorp is a significant milestone for sustainable clean technology in the mobility space. Zero Motorcycles will accelerate the transition to electric mobility in India and other global markets where Hero does business. The scope of this collaboration aligns with Hero’s goals of improved exports in existing and new markets.Pawan Munjal, Chairman & CEO, Hero MotoCorp, said “Our partnership with Zero Motorcycles is a significant milestone in our journey towards ushering in an era of sustainable clean technology in the mobility space. With Zero as our partner, we look forward to accelerate the transition of electric mobility in India and across our global markets.” More

Hero MotoCorp sales increased both in terms of YoY and MoM and across domestic sales and exports in February 2023New Hero SplendorHero MotoCorp has reported a YoY growth of 10.11 percent in February 2023. Sales (domestic + exports) stood at 3,94,460 units in the past month, up from 3,58,254 units sold in Feb 2022. Even as the company reported a 15.34 percent growth in domestic sales to 3,82,317 units in Feb 2023 from 3,31,462 units sold in Feb 2022, exports dipped significantly. The company’s exports which had stood at 26,792 units in Feb 2022 fell 54.68 percent to 12,143 units in the past month.Hero Motorcycle sales increased 9.87 percent in Feb 2023 to 3,71,854 units from 3,38,454 units sold in Feb 2022 while Scooter sales which had stood at 19,800 units in Feb 2022 improved by 14.17 percent to 22,606 units in the past month. Top selling motorcycles from Hero MotoCorp include Splendor, HF Deluxe, Passion, Xpulse, Xtreme, etc. In the scooter department, Hero has Maestro, Destini as well as the new Xoom and Vida electric scooter.Hero MotoCorp Sales Feb 2023On a MoM basis, Hero MotoCorp sales improved by 10.59 percent from 3,56,690 units sold in Jan 2023. Domestic sales were higher by 9.41 percent from 3,49,437 units, while exports surged 67.42 percent from 7,252 units shipped in Feb 2023. MoM sales improved in the case of motorcycles by 11.54 percent but dipped 1.93 percent for scooters.Motorcycle sales in Jan 2023 had stood at 3,33,638 units relating to a 38,216 unit volume growth and 93.54 percent share. Scooter sales on the other hand had been at 23,052 units in Jan 2023 relating to a 446 unit MoM volume de-growth.Hero MotoCorp Sales Feb 2023Hero MotoCorp YTD SalesOn a year to date basis, Hero MotoCorp sales improved by 7.01 percent. Total sales (domestic + exports) which had stood at 44,93,996 units in FY 2022 improved to 48,09,204 units in FY 2023 period. There was growth seen in the case of domestic sales by 10.06 percent to 46,53,063 units in FY 2023 from 42,27,762 units sold in FY 2022.Exports on the other hand dipped 41.35 percent to 1,56,141 units in FY 2023 from 2,66,234 units shipped in FY 2022. This was a 1,10,093 unit volume de-growth with exports commanding a 3.25 percent share as against domestic share of 96.75 percent.YTD growth was seen both in the case of motorcycles and scooters by 6.45 percent and 15.07 percent to 44,73,260 units and 3,35,944 units respectively. There had been 42,02,044 units sold in domestic markets in FY 2022 relating to a volume growth of 2,71,216 units and 93.01 percent share. Exports stood at 2,91,925 units in FY 2022 with a 43,992 unit volume growth and share percentage of 6.99.New Hero Scooters Increase SalesThe new Xoom 110cc scooter has played a major part in sales in the past month. The Xoom that rivals the Honda Dio in its segment is presented in three variants and is available from Rs 68,599 onwards.Hero MotoCorp has commenced sales of its electric scooter under Vida brand in cities of Delhi, Bengaluru and Jaipur. Plans are afoot to introduce the e-scooter in other cities as well in the next fiscal. Hero MotoCorp VIDA V1 electric scooter is offered in two variants Pro and Plus. More

Hero MotoCorp saw the Splendor most in demand in domestic markets while the HF Deluxe was the most exported in Jan 2023Hero Vida Electric ScooterHero MotoCorp, the largest two wheeler manufacturer in the world, has seen lower domestic sales and exports in the past month. Sales dipped 2.56 percent in domestic markets while it was exports that saw an even higher de-growth at 66.75 percent YoY.Domestic sales stood at 3,49,426 units in Jan 2023, down 2.56 percent from 3,58,607 units sold in Jan 2022. This was a 9,181 unit volume de-growth. The company introduced the Xoom scooter at the end of January 2023. This 110cc scooter, which targets a younger segment of buyers in the country, could push up sales in the months ahead.Hero MotoCorp Sales Breakup Jan 2023Hero MotorCorp had two of its bikes – Splendor and HF Deluxe in top form in domestic markets. These two bikes which featured at No. 1 and 4 on this list of top 10 best-selling motorcycles in India in Jan 2023 commanded a market share of over 50 percent.Hero Splendor commanded a 74.93 percent share on this list with 2,61,833 units sold in Jan 2023, up 25.72 percent from 2,08,263 units sold in Jan 2022. HF Deluxe sales dipped 44.32 percent YoY to 47,840 units, down from 85,926 units sold in Jan 2022. This was a 38,086 unit volume de-growth. Increased demand was noted for the Hero Destini 125cc in Jan 2023. Sales improved to 10,975 units in the past month, up 259.95 percent over 3,049 units sold in Jan 2022.Hero MotoCorp Sales, Exports – Jan 2023Thereafter, every model in the company portfolio suffered YoY degrowth in Jan 2023. Glamour sales dipped 60.09 percent to 9,766 units from 24,473 units sold in Jan 2022 while sales of Hero Pleasure also fell by 44.27 percent to 7,354 units, down from 13,195 units sold in Jan 2022.Domestic sales of Hero Passion (3,601 units), Maestro (3,008 units), Xpulse 200(2,427 units) also suffered YoY de-growth while there were 1,183 units of the new Xoom scooter sold last month. Xtreme 160/200 sales also fell by 67.75 percent to 989 units from 3,067 units sold in Jan 2022 while Vida sales were at 450 units. Hero Vida electric scooter was launched in October 2022 marking the company’s foray into the electric two wheeler segment. Offered in Pro and Plus variants, the scooters offer a range of 165 kms and 143 kms respectively.Hero Exports Jan 2023Hero MotoCorp suffered a 66.75 percent YoY export de-growth in Jan 2023. Exports which had stood at 21,816 units in Jan 2022 fell by 14,563 units to 7,253 units in the past month. Every model on this list ended in the red except for the Xpulse 200. HF Deluxe was the most in demand in global markets with 2,448 units shipped in the past month, down 31.92 percent YoY from 3,596 units exported in Jan 2022. Hero Splendor was at No. 2 with 1,936 units exported last month, down 51.96 percent from 4,030 units sold in Jan 2022.Hero Hunk exports suffered the highest YoY de-growth of all. Exports dipped 84.56 percent to 1,643 units in Jan 2023 down from 10,642 units shipped in Jan 2022, the month when it had been the top exported model from Hero MotoCorp. Glamour (672 units), Xpulse 200 (472 units), Maestro (50 units) and Destini 125 (32 units) also featured lower down the order on the export list with each noting a YoY de-growth. More

Hero Xoom 110 scooter undercuts Honda Activa 6G in across the variants – Offers more tech, features, flash value and a lot of sportinessNew Hero Xoom ScooterHero Moto seems to be on the verge of turning the scooter market in its favour. This 2W behemoth already has the Indian budget commuter motorcycle segment in its grasp and is the largest 2W manufacturer in India in volumes. There is not much action for Hero in scooter segment as Honda has firmly established its dominance here.With the Activa range, Honda is the highest scooter maker in India. Hero aims to grab some of this pie as it launched Xoom 110 sporty scooter in India, priced between Rs 68.5K – 76.6K. With Xoom 110, Hero aims to intrude into bubbles of Activa 110, Dio and Jupiter 110. Let’s take a look if Hero has a compelling proposition on paper.Hero Xoom 110 Vs RivalsWhere dimensions are concerned, Hero has tried to offer a lot of road presence. In that sense, Xoom is the longest at 1,881 mm and has the longest wheelbase of 1,300 mm. It is not very tall as that cake is taken by Activa. Dio is the widest and at just 650 mm, Jupiter is the narrowest. Xoom weighs more than all of its rivals at up to 109 kg. It is definitely not as light as Dio at 105 kg.Where boot space is concerned, Xoom’s official number is not yet revealed. But it can’t be as big as Jupiter’s 33L, which can house two helmets in ease and more. Even though Xoom is not the tallest, it has the highest seat height at 770 mm. Ground clearance of Activa is unmatched in this competition.Hero Xoom 110 Vs RivalsAll scooters get front telescopic forks and rear single-sided mono spring unit. Only Xoom and Jupiter offer front-disc brake options. Hondas should make do with 130mm drum brakes at both ends. Jupiter’s front disc is 220mm, while Xoom’s is 190mm. Xoom and Jupiter offer 12” wheels at both ends, whereas Honda duo gets 12” front and 10” at the rear. ABS is not offered with any.A 110 cc engine is common with all scooters in this comparo. Hero offers most power at 8.05 bhp, but torque figure is lower than Dio’s 9 Nm. There is not much to brag about performance as they are almost similar. Jupiter gets a 6L fuel tank, highest on this list.FeaturesHero Xoom 110 gets X-shaped LED DRLs at front with LED headlights. This gives Xoom its distinct look and Hero offers it as standard. Dio offers DRLs too but they’re mostly like pilot lamps. Activa and Jupiter don’t get DRLs. LED headlights are standard with Xoom and Jupiter, whereas Activa and Dio get them on Deluxe trims onwards. Take a look at the official TVC of the new Hero XOOM below.[embedded content][embedded content]Activa is the only one offering LED tail lights as standard and an anti-theft system with top-spec Smart Key trim. Others don’t get these. Hero and TVS offer connected tech with a proprietary smartphone app for integration, but the Honda duo lacks the same. Activa 6G only gets an analog instrument cluster and Activa 125 gets a digital unit. Digital instrumentation is standard with Hero Xoom 110 and Honda Dio, while it is only offered with top-spec Jupiter trims.Xoom 110 should have offered an external fuel filler cap, as every scooter in this list does. Hero should consider offering more colours to appeal to young audiences as 5 is not enough, especially compared to 10 on Activa 6G, 11 on Dio and 16 on Jupiter. Entry price-point of Xoom 110 is Rs. 68.5K and is on par with Dio and Jupiter. Activa 6G prices start from Rs. 74.5K and go till Rs. 80.5K. Xoom 110 undercuts Activa 6G pricing across the range and offers more features and flash value. Jupiter’s pricing goes till Rs. 86.2K as it offers a windscreen, pillion backrest and other goodies with top-spec trims. More