On the back of strong bookings of its premium bikes, Hero MotoCorp – the country’s largest two-wheeler maker is ramping up production for its premium models to 10,000 units a month.
The maker of Splendor and Passion, which is aggressively looking at making a mark in the fast-growing premium two-wheeler market, plans to deliver about 30,000 to 40,000 units in the next four months.
Speaking to analysts post the Q2 earnings call Niranjan Gupta, CEO of Hero MotoCorp said, “We will start with 10,000 units a month for both Karizma and Harley Davidson X440 and this will be augmented further going ahead. Our focus is on ensuring we win in this premium journey and get to a meaningful market share.”
The company is currently sitting on 25,000 unit bookings of Harley Davidson X440 and 14,000 units of Hero MotoCorp Karizma since it opened bookings.
A confident Gupta said, “Our win in the premium journey has started off very well. Our strategy is to address it on all fronts – product portfolio, place, price and promotion. We have started deliveries of Harley 440 across 100 stores from the 15th of October, we have so far delivered more than 2000 vehicles. We have got fresh 2000 bookings in the second window, and our cumulative booking for Harley still stands at 25,000 plus, we expect to deliver, over the next four months, and as the supplies get augmented, we will be able to deliver it a lot faster.”
The premium push is likely to continue in the forthcoming quarters. Hero MotoCorp is scheduled to launch its own version of the Harley Davidson X440 in March of 2024.
“The product excitement will continue for the next 4-6 quarters,” assured Gupta.