Hero MotoCorp

Upon launch of the upcoming Hero Vida electric scooter from Hero MotoCorp, it will take on the likes of Bajaj Chetak and TVS iQubeImage for reference.After months of anticipation, Hero MotoCorp had announced the launch of a new subsidiary brand called Vida which will handle all operations in the electric vehicle (EV) space. The company’s entry into electric mobility had been discussed extensively over the last few months.There were also questions regarding what brand name the bikemaker adopts for its EV business since rights for the ‘Hero’ brand are exclusively held by the Naveen Munjal-led firm Hero Electric. By opting for the brand name ‘Vida’, Hero MotoCorp has avoided all legal tangles and should now be able to focus solely on product development.Hero Vida Electric Scooter DelayedThe first model to come out of this new Vida brand will be an electric scooter which was earlier teased in August last year during the company’s 10th anniversary celebration. This electric scooter was planned for launch on 1st July 2022, which is also the birth anniversary of Dr. Brijmohan Lall, Chairman Emeritus of Hero MotoCorp. But that is not going to be the case now. As per the latest update from Hero MotoCorp, launch has been delayed to festive season 2022.Mr. Swadesh Srivastava, Head of Emerging Mobility Business Unit (EMBU), said, “In line with our philosophy of providing the highest quality products to our customers, we remain committed to bringing the best of Electric Vehicles (EVs) for our customers across the globe. The ongoing geopolitical situation has resulted in enormous supply chain issues and shortage of various components, including semiconductors. Keeping customers as the top-most priority, we, therefore, feel it would be prudent to unveil the first EV product around the upcoming festive period instead of July as earlier announced. We are accordingly gearing up for the launch of VIDA – Powered by Hero – in the festive season.”Hero MotoCorp Electric Scooter – Under VIDA BrandIt is worth mentioning that the two-wheeler giant filed multiple trademarks for the name ‘Vida’ back in November last year. These included trademarks like Vida Electric, Vida Mobility, Vida EV, Vida MotoCorp, Vida Scooters, and Vida Motorcycles. Production of the upcoming e-scooter and other battery-powered models will be carried out at Hero’s new manufacturing plant in Chittoor, Andhra Pradesh.Significance Of the name ‘Vida’Deliveries of the electric scooter are expected to begin post launch. During the unveiling of the brand’s logo and the ‘sunrise’ visual identity of Vida, Dr. Pawan Munjal, Chairman & CEO, Hero MotoCorp, gave some insights about the brand name. He revealed that Vida means life, and the brand’s sole purpose is to create a positive impact on the world and move us all forward in meaningful ways.On this occasion, Hero MotoCorp also rolled out a US$100 Million Global Sustainability Fund. This fund will aim to establish global partnerships, spearheaded by the BML Munjal University (BMU) and Hero MotoCorp, with the objective of nurturing more than 10,000 entrepreneurs on ESG (Environmental, Social, and Governance) solutions that have a positive impact on the planet.Expected Details of Upcoming E-scooterHero MotoCorp has been tight-lipped about details of the upcoming electric scooter, however, an earlier teaser shed some light on it. The e-scooter sports a conventional underbone design and stands on 12-inch front and 10-inch rear black alloy wheels. It also didn’t feature a hub-mounted motor which means it could be powered by a mid-ship mounted electric motor with a belt drive.While the launch of the scooter is delayed, by the time deliveries start later this year, there would be enough charging stations set up at Bharat Petroleum pumps in most of the major cities. Given the nature of Hero MotoCorp’s business, we expect the upcoming electric scooter to be priced aggressively around Rs 1.5 lakh, ex-sh. More

Hero MotoCorp has reported a 165.89 percent YoY growth in May 2022 with an increase in domestic sales but de-growth in terms of exportsNew Hero SplendorHero MotoCorp, the world’s largest two wheeler maker has had a successful month of May 2022. Sales volumes increased substantially thanks to improvements in buyer sentiments and increased rural purchase backed by predictions of normal monsoon. Support by way of Government policies with the recent reduction in excise duty on petrol and diesel which has resulted in lower cost of fuel, has also brought relief to two wheeler ownersHero MotoCorp sold a total of 4,86,704 units in May 2022. This was a YoY growth of 165.89 percent over 1,83,044 units sold in May 2021. Domestic sales increased 192.34 percent to 4,66,466 units up from 1,59,561 units sold in May 2021 while exports dipped 13.82 percent to 20,238 units in May 2022 from 23,483 units shipped in May 2021.Hero MotoCorp Sales May 2022Growth was seen across both motorcycle and scooter sales. Motorcycle sales increased 153.07 percent YoY to 4,52,246 units, up from 1,78,706 units sold in May 2021. This was a volume growth of 2,73,540 units and a share percentage of 92.92. Scooter sales on the other hand saw a 694.33 percent YoY growth to 34,458 units in May 2022, up from 4,338 units sold in May 2021, a volume growth of 30,120 units and share percentage of 7.08.In May 2022, Hero MotoCorp also introduced the new Splendor+ XTEC commuter bike at Rs. 67,030. It comes in with added style and improved technology along with better comfort and safety features as compared to that seen on the Hero Splendor.Hero MotoCorp Sales May 2022Hero MoM Sales GrowthMonth-on-Month (MoM) sales of Hero MotoCorp also saw significant growth. Sales increased 16.26 percent MoM from 4,18,622 units sold in April 2022 to 4,86,704 units in the past month leading to volume growth of 68,082 units. Growth was seen both in terms of domestic sales and exports.Domestic sales increased 17.06 percent to 466,466 units from 3,98,490 units sold in April 2022. Exports saw a marginal increase of 0.53 percent to 20,238 units from 20,132 units sold in April 2022.Motorcycle sales improved 15.18 percent MoM from 3,92,627 units sold in April 2021 with 59,619 unit volume growth and 93.79 percent share. Scooter sales on the other hand increased 32.56 percent from 25,995 units shipped in April 2022 leading to an 8,463 unit volume growth and 6.21 percent share.Hero MotoCorp Sales May 2022 YTDThe two-wheeler major also announced that its first electric vehicle unveil, which was earlier scheduled to take place in July, has now been pushed ahead to the upcoming festive season in view of supply chain issues and shortage of various components, including semiconductors. More

Hero MotoCorp saw its YoY sales increase 16.30 percent while MoM domestic sales dipped 4.15 percent along with exportsImage – Luck Vi VloggerHero MotoCorp, the world’s largest two wheeler manufacturer, has not been faring too well in recent months. Though its domestic sales increased on a YoY basis by 16.30 percent, MoM sales dipped 4.15 percent. Total domestic sales in the past month stood at 3,98,464 units, up from 3,42,614 units sold in April 2021 leading to a volume increase of 55,850 units.MoM sales dipped 4.15 percent over 4,15,726 units sold in March 2022. Exports on the other hand posted a YoY and MoM de-growth at 20,131 units in April 2022 down 28.32 percent and at 34,390 units in March 2022 down 41.46 percent respectively.Hero Domestic Sales Breakup April 2022Domestic sales saw the Hero Splendor at No. 1 with sales growth of 20.97 percent to 2,34,085 units in April 2022, up from 1,93,508 units sold in April 2021. This motorcycle commands a 58.75 percent share. MoM sales dipped 5.83 percent over 2,48,577 units sold in March 2022 when share percentage stood at 59.79.At No. 2 was the HF Deluxe with YoY and MoM growth. Sales stood at 1,00,601 units in the past month, up 41.11 percent over 71,294 units sold in April 2021. MoM sales improved marginally by 0.38 percent from 1,00,216 units sold in March 2022. YoY and MoM de-growth was seen both in the case of the Hero Glamour and Pleasure. Sales stood at 20,796 units and 12,303 units respectively last month, down from 23,627 units and 18,298 units sold in April 2021. MoM sales dipped 33 percent and 20.62 percent respectively over 31,037 units and 15,498 units sold in March 2022.Hero Domestic Sales April 2022Hero Passion posted a YoY de-growth of 41.49 percent to 10,384 units from 17,748 units sold in domestic markets in April 2021 while MoM sales improved 53.81 percent over 6,751 units sold in March 2022. Hero Destini 125 (8,981 units) and Maestro (4,154 units) also dipped YoY while sales of the Destini improved 217.91 percent on a MoM basis from 2,825 units sold in March 2022. There were also 3,981 units of the Hero Xtreme 160R and 3,179 units of Xpulse 200 sold in April 2022 posting a 73.62 percent and 55.45 percent YoY growth.Hero Exports Breakup April 2022In export markets, sales were lackluster for Hero MotoCorp. Sales dipped YoY to 20,131 from 28,085 units sold in April 2021. MoM exports also fell 41.46 percent from 34,390 units sold in March 2022. Every model in the company portfolio posted a YoY de-growth except for the Hunk and Maestro. Hero HF Deluxe exports fell 35.27 percent YoY to 5,642 units in April 2022, down from 8,716 units exported in April 2021. MoM exports fell 25.47 percent over 7,570 units sold in March 2022.Hero Hunk sales improved 86.05 percent to 4,495 units from 2,416 units sold in April 2021 while MoM exports dipped 60.10 percent over 11,267 units sold in March 2022. YoY de-growth in exports was also seen in the case of the Hero Splendor (-18.48 percent), Glamour (-5.64 percent) and XPulse 200 (-21.98 percent). However, MoM sales of the XPulse 200 improved 70.35 percent over 1,386 units sold in March 2022.Hero Exports April 2022YoY sales of the Maestro also improved 2.20 percent to 557 units from 545 units sold in April 2021 though MoM exports dipped 23.07 percent from 724 units shipped in March 2022. Hero Passion exports were down to 0 units in April 2022 even as 810 units were exported in March 2022. Pleasure exports were also at 0 units in the past month from 120 units shipped in March 2022 while there were also no exports in the case of the Xtreme 160/200, Xtreme 150 and Achiever. More

Hero Splendor Plus has been updated for 2022 – It gets the Xtec treatment, which Hero has given to some of its vehicles already2022 Hero Splendor Plus XtecThe name Splendor has an emotional connection with masses in India. Multiple generations of countless families in the country have owned a Splendor. This is because the bike ticks all the boxes for almost every middle-class Indian. It has been in the market for almost three decades now and continues to pull sizable volumes even today.Since its launch way back in the early 1990s, multiple other iterations of the motorcycle have been introduced like Super Splendor and Splendor iSmart with different engine configurations. However, there is no match to the charm of the original 100cc Splendor.2022 Hero Splendor Plus XtecThe entry-level bike has remained more or less similar, in terms of specs, barring a few additional surnames like ‘Plus’ and ‘Pro’. The motorcycle offers bare basic equipment and focuses more on reliability which has been one of its key USPs. That said, Hero MotoCorp has now launched Splendor Plus XTEC.All new 2022 Hero Splendor Plus Xtec is priced from Rs 72,900 ex-sh. It is packed with features such as Full Digital Meter with Bluetooth connectivity, Call & SMS alert, RTMI (Real Time Mileage Indicator), low fuel indicator, LED High Intensity Position Lamp (HIPL) and exclusive graphics.2022 Hero Splendor Plus XtecRanjivjit Singh, Chief Growth Officer, Hero MotoCorp, said, “Hero Splendor has been a trend-setter for decades. The motorcycle has been impressing a diverse range of customers with its trust, style, performance and its enhanced range of comfort features. We are certain, Hero Splendor+ XTEC will yet again set a new benchmark – in terms of both technology and visual style, and deliver on the brand promise of comfort and safety.”Malo Le Masson, Head of Strategy and Global Product Planning, Hero MotoCorp, said, “Hero Splendor is the most popular and the best-selling motorcycle in India, a true companion to millions across India. It has been an icon for almost three decades and will still continue to inspire many with the launch of the Splendor+ XTEC model, adding technologically advanced features and a smart modern design.This is the latest model complementing the XTEC technology umbrella that has been an overwhelming success since its launch on the Hero Glamour 125, Pleasure+ 110 and Destini 125.” Take a look at the detailed walkaround video of the all new 2022 Hero Splendor Plus Xtec below, credited to Bike Point By Mintu & Rahul.[embedded content][embedded content]Hero Splendor Plus Xtec – New Features, Specs2022 Splendor XTEC gains new colour options as well as some funky body graphics. The four new colour schemes in Sparkling Beta Blue, Canvas Black, Tornado Grey and Pearl White. The Xtec range comes equipped with a wide range of features including a digital instrument console enabled with Bluetooth, a turn-by-turn navigation system, notification alerts, weather updates, a side-stand engine cut-off function, and a USB charger.The Splendor+ XTEC with segment-first Full Digital meter with Bluetooth connectivity, provides the rider with maximum functionality and information.  The full digital display offers practical and user-friendly functions, such as incoming and missed call alerts, new message alerts, two trip meters along with the RTMI (Real Time Mileage Indicator) and low fuel indicator. It also gets an integrated USB charging port.2022 Hero Splendor Plus XtecSplendor Plus Xtec is powered by a 97.2cc, single-cylinder, air-cooled engine that pushes 7.9bhp of power at 8,000rpm and 8.05Nm of peak torque at 6,000rpm. This unit is paired with a 4-speed gearbox. Suspension duties of the bike consist of telescopic forks up front and a mono-shock at rear while braking duties are carried out by drum brakes at both ends. More

Hero MotoCorp started off the new financial year 2022-23 on a positive note reporting a 12.4 percent increase in YoY salesImage – Vlogger Satyam GuptaHero MotoCorp has reported a 12.45 percent increase in sales in April 2022 starting off the new financial year FY 22-23 on a positive note. The company owes this increase to the opening up of the economy and increased government policy support, both of which have combined to relate to a more positive impact on consumer sentiments.Hero MotoCorp Sales April 2022Hero MotoCorp sales (domestic and exports) increased 12.45 percent to 4,18,622 units, up from 3,72,285 units sold in April 2021. This was a volume growth of 46,337 units. MoM sales dipped 7 percent from 4,50,154 units sold in March 2022, leading to a 31,532 unit volume de-growth. This growth was primarily seen due to increased demand for its motorcycle range while scooter sales dipped YoY.Motorcycle sales increased 15.71 percent to 3,92,627 units, up from 3,39,329 units sold in April 2021 leading to volume growth of 53,298 units and a 93.79 percent share. Motorcycle sales on a MoM basis saw a 7.77 percent de-growth over 4,25,721 units sold in March 2022.Scooter sales dipped on YoY basis while MoM sales increased. It was a 21.12 percent YoY de-growth to 25,995 units in April 2022, from 32,956 units sold in April 2021 with a 6,961 unit volume de-growth and 6.21 percent share. MoM sales increased 6.39 percent from 24,433 units sold in March 2022.Hero MotoCorp Sales April 2022Total domestic sales were up 16.31 percent YoY to 3,98,490 units from 3,42,614 units sold in April 2021 commanding a 95.19 percent share. MoM sales however, dipped 4.15 percent from 4,15,764 units sold in March 2022. Contributing domestic sales charts were Hero Splendor, HF Deluxe, Glamour, Pleasure, Maestro, Passion, Destini, Xpulse 200, Xtreme 160R, etc.Taking into account top 10 motorcycle sales in FY 2022, the Hero Splendor led the list with sales of 26,65,386 units. This was an increase of 8.30 percent over 24,61,172 units sold in the same period of the previous year leading to a 2,04,214 unit volume growth. Not only was Hero Splendor the best-selling motorcycle in FY 2022 but it was also the highest selling two wheeler, with sales surpassing that of Honda Activa by a substantial margin.Hero MotoCorp Exports April 2022Exports were in the red as sales dipped 32.15 percent to 20,132 units in April 2022 down 9,539 units over 29,671 units shipped in April 2021. Exports currently hold a 4.81 percent share down from 7.76 percent held in March 2022 when exports had stood at 34,930 units leading to a 42.36 percent MoM de-growth.In related news, Hero MotoCorp has revised prices of its scooter range effective from April 2022. The company currently offers four scooters – Pleasure Plus, Maestro Edge 110, Maestro Edge 125 and Destini 125. Prices have been increased by Rs 2,000 depending on variant.In April 2022, Hero MotoCorp strengthened their scooter portfolio and introduced the new Hero Destini 125 XTEC variant in India. It is priced at Rs 79,990 and gets powered via a 125cc BS-VI compliant engine producing 9 hp power at 7,000 rpm and torque of 10.4 Nm at 5,500rpm. More

Hero MotoCorp suffered a de-growth in domestic sales by 23.62 percent while exports increased 5.44 percent on a YoY basisImage – Patna BikesHero MotoCorp, the world’s largest two wheeler manufacturer saw its domestic sales dip in the past month. Every model in the company lineup suffered a de-growth except for the Xpulse 200. Total domestic sales in the past month stood at 4,15,726 units, down 23.62 percent from 5,44,320 units sold in March 2021. MoM sales performed better relating to a 25.44 percent growth over 3,31,421 units sold in February 2022.Hero Domestic Sales Breakup March 2022Hero Splendor was the best selling model in the company lineup in the past month. Sales stood at 2,48,577 units, down 11.25 percent over 2,80,090 units sold in March 2021. The Splendor commands a 59.79 percent share up from 58.45 percent held in February 2022 when sales stood at 1,93,731 units. Hero Splendor was also the best selling motorcycle in India in FY2022 with sales of 26,65,386 units, up 8.30 percent over 24,61,172 units sold in FY 2021.Hero HF Deluxe sales at No.2 saw a 30.65 percent YoY de-growth to 1,00,216 units down from 1,44,505 units sold in March 2021. It was a MoM growth of 31.99 percent as against 75,927 units sold in February 2022 with share percentage increasing from 22.91 percent to 24.11 percent during the said months. These were the only two bikes in the company lineup to post sales above the 1 lakh unit mark.Next in line was the Glamour with 4.12 percent YoY de-growth to 31,037 units, down from 32,371 units sold in March 2021. MoM sales improved 13.25 percent over 27,406 units sold in February 2021. Domestic sales of Pleasure (15,498 units), Passion (6,751 units) and Maestro (4,938 units) also suffered a YoY de-growth while MoM sales improved for all except the Passion that also took a 6.18 percent dip in MoM sales from 7,196 units sold in February 2022.Hero Domestic Sales March 2022Hero XPulse domestic sales increased 83.62 percent to 4,563 units in the past month, up from 2,485 units sold in March 2021 while MoM sales improved 6.86 percent from 4,270 units sold in February 2022. Destini 125 (2,825 units) and Xtreme 160R (1,321 units) also saw a YoY dip in demand.Hero MotoCorp has also announced a hike in prices of its scooter range from April 2022. The company currently offers 4 scooters – Pleasure Plus, Maestro Edge 110, Maestro Edge 125 and Destini 125 and prices have been increased by Rs 2,000 depending on variant. Hero has not increased prices of the Xtec lineup of Destini 125 as the scooter was has only been recently launched.Hero Exports – Hunk, Splendor, HF DeluxeTotal exports in the past month stood at 34,390 units, up 5.44 percent over 32,617 units sold in March 2021. MoM exports improved 28.36 percent from 26,792 units shipped in February 2022. Hero Hunk was most in demand in global markets. Exports increased 317.14 percent YoY to 11,267 units, up from 2,701 units sold in March 2021. Currently holding a 32.76 percent share, MoM exports increased 19.13 percent from 9,458 units sold in February 2022.Hero Exports March 2022Hero Splendor also posted a YoY and MoM surge in exports to 8,913 units while HF Deluxe suffered a YoY dip by 16.73 percent to 7,570 units, down from 9,091 units sold in March 2021. MoM shipments increased 38.80 percent from 5,454 units sold in February 2022.Hero Glamour saw YoY and MoM increase in exports to 3,272 units while Xpluse 200 exports dipped 41.64 percent to 1,386 units. MoM exports of the XPulse 200 surged 3365 percent from just 40 units shipped in February 2022. The export list also included Hero Passion (810 units), Maestro (724 units), Destini 125 (328 units) and Pleasure (120 units). More

EV exports will play a crucial role in helping Hero MotoCorp achieve its ambitious global sales targetImage for referenceWhile the likes of Bajaj and TVS currently dominate export markets, Hero MotoCorp is stepping up focus in this space. The company already has a presence across Latin America, Africa and Asian countries like Nepal and Bangladesh. Hero MotorCorp EVs can be introduced at these locations and newer geographics like Europe as well.EVs to boost overseas businessAccording to Hero MotoCorp, its upcoming EVs will power the next phase of growth in overseas markets. Mature markets like Europe will be among the ones that will be targeted. There’s greater awareness about climate change at these locations and growing preference for EVs. Setting up charging and battery swapping infrastructure will also be more convenient in European countries.By 2025, Hero MotoCorp has plans to generate 15% of its overall sales from overseas markets. The strategy seems similar to Bajaj and TVS, which have been able to establish themselves as global two-wheeler brands.Export numbers of FY22 have been encouraging for Hero, as growth has zoomed to 57%. As compared to sales of 191,609 units in global markets in FY21, the numbers were at 300,624 units in FY22. This is the highest ever overseas sales numbers for the company.Hero MotoCorp First electric scooter under brand VIDAOne of the effective strategies Hero has deployed in overseas markets is to launch products that specifically suit local needs and preferences. For example, there’s Hunter 100 for Nigeria and Hunk 150 for the Middle East. Similarly, Hunk 200 has emerged as a popular choice in Latin American countries. There are also bikes such as Xpulse 200 and Xtreme 160R that have emerged as bestsellers across multiple geographies.Battery swapping infra pushHero MotoCorp will be launching its EVs under Vida brand. First Vida EV, which will be an electric scooter, is planned to be unveiled on July 1, 2022. The event marks the birth anniversary of the late Brijmohan Lall Munjal, the original founder of Hero MotoCorp. Vida electric scooter will be manufactured at the company’s production unit in Chittoor, Andhra Pradesh. Deliveries are expected to commence later in the year.Aiming to offer something truly unique, Hero MotoCorp will be replicating the Taiwan model in India. EVs with swappable batteries are the most preferred in Taiwan and much of the business is owned and operated by Gogoro. Hero has forged an alliance with Gogoro to develop similar battery swapping infrastructure in India. This collaboration is likely to be utilized for global markets as well.Gogoro has also played a role in the development of the Vida electric scooter. Much of the work has been carried out at Hero’s in-house R&D centres. Inputs have been sourced from Ather Energy as well. Hero MotoCorp has consistently increased its shareholding in Ather and currently holds 34.8% stake. However, there doesn’t seem to be any plans for a merger. Ather will continue on its journey as a separate EV brand. More