Despite being one of the biggest motorcycle manufacturers in India, Hero MotoCorp has focused predominantly on the budget and utility segments. Indeed, while these bikes represent the majority of the motorbike market in India, it can't be denied that a rapidly growing premium segment could prove to be a missed opportunity for a company like Hero.
Indeed, Hero MotoCorp is making moves to develop a stronger presence in the premium segment. Niranjan Gupta, the company's CEO, recently stated in an article by AutoCar India, that the premium motorcycle market is growing at "double the pace of the mainstream bike market." As such, Hero is determined to release a wide selection of premium models with better performance and improved technology. We're already seeing the start of it with the recently launched Karizma XMR, as well as of course, the brand's partnership with Harley-Davidson in the form of the X440.
Speaking of which, on top of the recently launched models, Hero MotoCorp is reportedly developing four more models – two of which will be their own branded derivatives of the Harley X440, while another two will fall under the brand's so-called "core premium" segment. At present, Hero's premium range outside of the Karizma XMR and Harley X440 consist of the XPulse 200 lineup. The XPulse 200 4V is a rugged, adventure-style dual-sport model, while the Xpulse 200T is a road-focused motorbike with retro-inspired styling.
Commenting on the growing premium motorcycle market, Gupta told Auto Car India, "At the premium end of the market, customers are willing to try out different brands and we intend to have a full portfolio of bikes. We have about five percent market share in the premium bike segment, but the game for us is starting now. Each of these bikes will add to the puzzle we are putting together, and this will be backed by a 360-degree premium experience, too.”
So, what's next for Hero MotoCorp? Well, the brand plans to open 100 exclusive stores for its premium model range, as well as refresh its existing dealer network consisting of 500 outlets. All these are slated in the company's "Hero 2.0 Retail Plan." All in all, Hero MotoCorp has invested a whopping 10 billion rupees, or about $120 million, towards the expansion of its premium models and electric motorcycles.
