In a strategic bid to secure a bigger share of the premium market, Hero MotoCorp, a leading two-wheeler manufacturer, has taken significant steps to expand its presence in both the high-end and mass market segments. With an annual sales figure of nearly 5.5 million two-wheelers, the company is poised to capitalize on the surging demand for premium bikes among Indian consumers.
Hero MotoCorp’s latest offering, the Mavrick 440, was unveiled today, marking a key milestone in the company’s pursuit of excellence in the premium segment. Developed jointly by the Hero Global Center for Innovation and Technology and the Hero Tech Center Germany, the Mavrick 440 is expected to make waves in the market. Although the price is currently under wraps, the model is set to open for pre-booking from February, building anticipation among eager consumers.
The company’s previous forays into the premium market include the successful launch of the Harley Davidson X440 in the upper premium segment last year, boasting an ex-showroom starting price of Rs 279,500. Additionally, Hero MotoCorp introduced the Karizma XMR to capitalize on the brand’s popularity in the Indian market, with a starting ex-showroom price of Rs 179,900.
About Hero MotoCorp Unveils Mavrick 440:
According to Niranjan Gupta, the CEO of Hero MotorCorp, the premium bike segment has witnessed remarkable growth, with industry sales surging sixfold over the past decade. The current market size stands at 800,000 units annually, and it is projected to surpass the 1 million-mark in the near future. Gupta highlights that expanding Hero’s presence in the premium segment will not only cater to evolving consumer preferences but also contribute to enhancing the company’s EBITDA margin.
Gupta emphasizes the changing consumer trends, noting that over 75 percent of Indian consumers are opting for the uppermost variants among Hero’s two-wheelers. This insight underscores the importance of the company’s strategic focus on the premiumization trend, aligning its offerings with the evolving preferences of the market.
In addition to the premium segment, Hero MotoCorp remains committed to its core business by launching a new mass-market model – the Xtreme 125R. Priced competitively at Rs 95,000 (ex-showroom starting price in Delhi), the Xtreme 125R is the first offering from Hero’s stable in 2024. This move reflects the company’s commitment to maintaining a strong presence in the mass market while simultaneously expanding into lucrative premium segments.
Hero MotoCorp’s recent developments underscore a strategic approach to cater to diverse consumer preferences. The unveiling of the Mavrick 440 in the premium segment and the launch of the Xtreme 125R in the mass market showcase Hero’s determination to capture a broader market share and stay ahead in an ever-evolving two-wheeler industry.