With margins back to pre-covid level, Hero MotoCorp targets enhanced market share, business growth
The Hindu
Hero MotoCorp looks to enhance market share, production capacity, and electric vehicle range. 25,000 bookings for Harley-Davidson X440.
With its margins back to pre-Covid levels, Hero MotoCorp is now looking at sustainable growth, enhancing market share across segments on the back of new product launches over the next few quarters, according to a top company executive.
The country's largest two-wheeler maker is also looking at enhancing production capacity to roll out Harley-Davidson X440 which has already received over 25,000 bookings.
The company is also on track to introduce its electric vehicle range in 100 cities by this year-end with a focus on attaining clear leadership in the vertical.
"The ICE (internal combustion engine) business margins are now 14.5%. Effectively, it means that we are back to pre-Covid levels which were around 14%," Hero MotoCorp CEO Niranjan Gupta said in an analyst call.
Therefore, moving forward, having covered the margins back to pre-Covid levels, the company's singular focus is going to be growth and market share on the back of lots of launches that have been done and are in the offing in the next few quarters, he added.
During the Covid period and with the cost inflation, the margins had got down to around 11.5%, Mr. Gupta noted.
Hero MotoCorp's overall retail market share in the domestic market currently stands at around 35%.
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