Hero MotoCorp looks to stay on top with home-made bikes
08 August 2013
Hero MotoCorp, the world's largest manufacturer of two-wheelers with annual production capacity expected to reach 12 million units this year, will launch a slew of indigenously developed models over the next few years to regain its 50 per cent share of the Indian bike and scooter market.
Hero Moto-Corp, the world's largest two-wheeler maker by volume with over 20 facilities across the world, saw its market share declining of late and is now in a bid to maintain its pole position.
Hero saw a steady decline in its market share since it parted ways with its erstwhile partner Honda Motors five years ago.
Hero's market share for the financial year ended March 2012-13 stood at 42.85 per cent against its 49 per cent share during the 2009-10 financial year.
Hero's share of India's 14-million-unit Indian market has been eroding in the face of tough competition from rivals, mainly its erstwhile joint venture partner Honda Motors of Japan. Both the companies parted way in December 2010.
Honda, which made a solo entry in the Indian market in December 2010, on the other hand, has steadily increased its market share to around 20 per cent in the current financial year.
Honda is currently on a sales high with a strong demand for its newly launched Dream series bikes even as it continues to maintain leadership in the scooter segment.
Reports quoting Pawan Munjal, MD & CEO of Hero MotoCorp, meanwhile, said the company was looking at not just retaining its leadership in the market, but also exceeding its sales record, moving beyond the 50 per cent market share.
He was speaking on the sidelines of an event to mark the roll-out of the company's 50-millionth two-wheeler at its Gurgaon facility.
Munjal said Hero Moto Corp will leverage on technology, new products, people empowerment and global expansion to boost sales volume.
Munjal said by the year 2020 the company will have an annual turnover of Rs60,000 crore and will be selling its products in over 50 countries.