Hero MotoCorp Raise Prices by 2018, Including 3 New Models
Hero MotoCorp, one of India’s largest motorcycle and scooter manufacturer, is raising its ex-showroom prices by Rs400 per model starting January next year to off-set the rising input costs, although the exact price may vary depending on the model and specific market.
The New Delhi-based firm has been a major figure in the 100 to 125cc motorcycles, carrying brands such as Splendor, Passion, Deluxe, Glamour, and Super Splendor, and has about 46% market share in the two-wheeler category.
(Super Splendor)
(Passion Pro)
(Passion XPro)
Their new releases – Super Splendor, a 125cc ASFS engine with i3s technology; 97.2cc Passion Pro with air-cooled, 4-stroke single cylinder OHC; and Passion XPro of 109.1cc engine – are expected to be released in a phase manner next year alongside the price hike.
“With the launch of the new Passion Pro, Passion XPro and Super Splendor,” said Mr Malo Le Masson, Head of Global Product Planning of Hero MotoCorp, “we aim to further consolidate our leadership in the 100-125cc segments.”
Despite the late entrance of Hero into the export market, they are already planning to double the number of countries to export to within the next 20 to 40 years. Fortunately, the large size of the two-wheeler market in developing countries, especially Asia, offers Hero a really good opportunity for success.