Hero MotoCorp currently has a market share of 20% in the scooter segment. Scooters currently contribute only 13%-14% to the company’s revenue.
The recent resurgence of the personal scooter segment in the Indian two-wheeler market has seen manufacturers introduce a slew of new products in the country. The current market leader in the segment is Honda which makes every second scooter sold in India. Now, the biggest two-wheeler brand in India, Hero MotoCorp wants to displace the Japanese major from its throne and become the market leader in the scooter segment too.
Hero MotoCorp says that it holds a 20% market share in the country in the scooter segment which sees a sale of around 4.5 lakh units per month, and it aspires to grow further. Hero wants to overtake its erstwhile partner Honda, which currently enjoys a 50% market share thanks to its highly successful Activa range of scooter.
Hero says that the sale of scooters currently contributes only 13-14% to the company’s revenues and it expects the revenues to grow further with time. The company is also entering new territories such as the electric scooter segment and showcased a concept e-scooter at the recently concluded Auto Expo. Hero also plans a greater focus on in-house development and will soon inaugurate its ‘Hero Centre of Global Innovation and Research & Design’ near Jaipur, which has been built at a cost of Rs. 450 crores.
Hero MotoCorp is the largest motorcycle maker in India, controlling 52% of the two-wheeler market. It recently launched two new scooters models, the Maestro Edge and Duet, both developed in-house after separation from Honda. Currently, their lineup has three scooters namely the Maestro, Duet and Pleasure. The automaker says they have more products in their future lineup but it will not disclose them for now for obvious reasons.
Hero MotoCorp Scooters
– The company wants to become the leader in scooter sales in India
– It currently has a market share of 20% in the scooter segment
– The current leader Honda has a market share of more than 50%
– Scooters currently contribute only 13-14% to Hero’s revenues