On the back of strong bookings of its premium bikes, Hero MotoCorp 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.
- Harley X440 deliveries commenced on October 15
- Over 2,000 Harley X440 units have been delivered so far
- Hero to get its own version of Harley X440 next year
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 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 bookings for the Harley Davidson X440 and 14,000 for the Karizma XMR since it opened bookings.
A confident Gupta said, "Our win in the premium journey has started 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 October 15, we have so far delivered more than 2000 vehicles. We have got fresh 2,000 bookings in the second window, our cumulative booking for Harley still stands at 250,00 plus, we expect to deliver, over the next four months, 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.
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