Hero MotoCorp Grows 14% in February 2016

World’s largest two-wheeler manufacturer and leading motorcycle seller in the country, Hero MotoCorp Ltd. (HMCL) is now increasing its foothold in the scooter segment as well. Despite being affected by the Jat clashes in regions near its plants (Gurgaon, Dharuhera and Neemrana), the company has recorded a sales growth of around 14%. It has sold a total of 5,50,992 units in February 2016 as compared to 484,769 units sold in the corresponding month last year.

Presently, the company has a market share of 20% and sells around 4.5 lac scooters per month. Hero MotoCorp has been competing with Honda since both the giants have parted ways. Honda currently has a scooter sales market share of over 50% but with the launch of Hero's first in-house developed products, Maestro Edge and Duet, the company is somehow trying to affect the sales of Honda Activa. Around 48,000 units of Edge were sold in January 2016 against 2.1 lac Activas. If Maestro Edge keeps growing with this pace, it might soon come ahead of Activa and become the leading scooter in terms of sales. Honda has also come up with an all new concept, a crossover of scooter and motorcycle - NAVi, which adds another segment to the gearless two-wheeler industry.

Hero MotoCorp had one of the best stalls at the 2016 Auto Expo and it showcased many models including Splendor iSmart 110, Xtreme 200S, XF3R concept and the electric Duet E. Also, the Indian manufacturer will be increasing its production capacity from its new plant that is to be inaugurated on March 9, 2016. This ‘Hero Centre of Global Innovation and Research & Design (R&D)’ is situated at Kukas in Jaipur, Rajasthan. Besides this, the company has also started the construction of its 6th facility of the country in Halol, Gujarat.

Also Read: Hero Motocorp Splendor iSmart 110 to be launched in April this year