Hero MotoCorp has partnered with Harley-Davidson to develop an all-new motorcycle and will also introduce additional variants of the Harley-Davidson X440 that they co-created.
This move by Hero is a strategic initiative to capture a larger share of India’s expanding premium motorcycle market.
“The Company has extended its partnership with Harley-Davidson Motor Company, Inc. to introduce new variants of the Harley-Davidson X440 and to design a new motorcycle,” Hero stated in an exchange filing dated Friday, December 27, 2024.
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The Harley Davidson X440 marked the initial collaboration between Hero and Harley. This partnership dates back to 2020 when Harley Davidson decided to cease local assembly in India due to insufficient demand, leaving Hero mainly responsible for existing dealerships.
Consequently, they opted to collaborate on a smaller motorcycle aimed at global markets.
Launched on July 3, 2023, the X440 garnered over 25,000 bookings worldwide by August 8. Manufactured at Hero’s Garden Factory in Neemrana, Rajasthan, it starts at ₹2,39,500 (Ex-showroom, Delhi).
Hero subsequently launched the Mavrick 440, based on the same platform, priced at ₹1,99,000 (Ex-showroom, Delhi).
Both motorcycles, alongside Hero’s other premium options like the Xpulse and Karizma, are offered through its “Premia” dealerships, as the company, primarily known for affordable commuter bikes, seeks to penetrate the premium sector. Given that the X440 is a Harley, it is also available through Harley Davidson’s authorized dealerships.
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However, the reach of Hero’s Premia dealerships has been fairly limited compared to competitors like Royal Enfield.
Nevertheless, the company is expanding the Premia network to over 50 outlets, with a target of reaching 100 by March next year. In October 2024 alone, Hero opened nine new Premia outlets across various cities.
Hero MotoCorp currently holds the title of the largest two-wheeler manufacturer globally, selling 5.62 million units in the financial year 2023-24, reflecting a 5.5% sales increase compared to 5.33 million units in 2022-23.
As for Harley Davidson in India, besides the X440, it offers models like the Nightster ( ₹13,39,000), Nightster Special ( ₹14,09,000), Sportster S ( ₹16,49,000), Fat Bob 114 ( ₹21,49,000), Pan America Special ( ₹24,64,000), Fat Boy 114 ( ₹25,69,000), Heritage 114 ( ₹27,19,000), Breakout 117 ( ₹30,99,000), Street Glide ( ₹38,79,000), and Road Glide ( ₹41,79,000). All prices are ex-showroom, Delhi.
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How did Hero Motocorp shares perform?
Hero Motocorp Ltd shares ended at ₹4,239.50 on the Bombay Stock Exchange (BSE) following the end of the week’s trading session on Friday, December 27, 2024.
This represents a decrease of 36.85 points, or 0.86%.
