Hero MotoCorp has teamed up with Harley-Davidson to create another all-new motorcycle and will also roll out more versions of the Harley-Davidson X440, which they developed together.
With this, Hero is stepping up its game to grab a bigger slice of India’s growing premium bike market.
“The Company has extended its partnership with Harley-Davidson Motor Company, Inc. in order to expand the Harley-Davidson X440 into new variants as well as to develop a new motorcycle,” Hero announced in an exchange filing dated Friday, December 27, 2024.
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The Harley Davidson X440 was the first brainchild of the Hero-Harley collaboration. The partnership actually goes as far back as 2020, when Harley Davidson decided to exit local assembly in India due to weak demand, leaving Hero primarily in charge of existing dealerships.
They then decided to collaborate and develop a new and smaller motorcycle together for global markets.
Introduced on July 3, 2023, the X440 received more than 25,000 bookings globally by August 8. It is manufactured at Hero’s Garden Factory in Neemrana, Rajasthan, and is currently priced at ₹2,39,500 onwards (Ex-showroom, Delhi).
Hero then launched the Mavrick 440, based on the same platform. It is priced at ₹1,99,000 (Ex-showroom, Delhi).
Both the bikes along with Hero’s other premium offerings like the Xpulse and Karizma are sold through its “Premia” dealerships as the company mostly famous for its line of affordable commuters, looked to expand into the premium segment. The X440 being a Harley was also sold through Harley Davidson’s official dealerships.
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Hero’s availability of Premia dealerships has been extremely limited though, especially in comparison with rivals like Royal Enfield.
However, it has also been expanding the Premia network to more than 50, aiming to reach 100 such outlets by March next year. In October 2024 alone, the company inaugurated nine Premia outlets in various cities.
Hero MotoCorp is currently the world’s largest manufacturer of two wheelers. It sold a total of 5.62 million units during the financial year 2023-24, which was about a 5.5% increase in sales, compared to the 5.33 million units it sold in 2022-23.
When it comes to Harley Davidson in India, apart from the X440, it currently offers 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 the prices are ex-showroom, Delhi.
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How did Hero Motocorp shares perform?
Hero Motocorp Ltd shares closed at ₹4,239.50 on the Bombay Stock Exchange (BSE) after the week’s trading session ended on Friday, December 27, 2024.
This was a drop of 36.85 points or 0.86%.
