New Delhi, February 15: Hero MotoCorp is sharpening its focus on expanding market share in faster-growing segments such as scooters, premium motorcycles, electric vehicles, global markets, and parts and accessories, as it looks to accelerate growth beyond its traditional strongholds.
The country’s largest two-wheeler manufacturer acknowledged that while it continues to lead in overall volumes, it remains relatively under-represented in several high-growth categories. Chief Executive Officer Harshvardhan Chitale said the company sees significant headroom for expansion in these segments.
Focus on Under-Represented High-Growth Segments
Chitale noted that scooters, premium motorcycles, electric vehicles, global markets, and the parts and accessories business present strong opportunities for growth and market share gains. He highlighted that these categories are growing faster and represent areas where the company intends to deepen its presence.He emphasized that with one of the largest vehicle parks in the country, Hero MotoCorp is well-positioned to tap into these segments and accelerate market share gains. The company plans to channel focused investments to strengthen its footprint across these five priority areas.
Strong Q3 Performance with 16 Percent Volume Growth
For the December quarter, Hero MotoCorp reported revenue of Rs 12,487 crore and a profit after tax of Rs 1,275 crore.During the latest third quarter, the company sold 16.97 lakh units of motorcycles and scooters, compared to 14.64 lakh units in the corresponding period of the previous fiscal year, marking a 16 percent increase in volumes.
Supply Chain Resilience and Growth Execution
Chief Financial Officer Vivek Anand said the company will prioritize execution and acceleration of its growth ambitions over the next few years. A key focus area will be strengthening supply chain flexibility, robustness, and resilience.He pointed out that the industry has faced disruptions due to component shortages and geopolitical issues, and such challenges may continue. The company aims to remain agile and prepared to manage potential disruptions while maintaining operational stability.
Anand added that Hero MotoCorp will continue investing behind growth initiatives, including premium scooters, its EV portfolio, global expansion, and enhanced customer service under initiatives such as Hero 2.0 and Premia.
Industry Outlook Remains Positive
The company remains confident about the overall outlook for the two-wheeler industry. According to Anand, the industry is expected to grow in double digits during the current quarter, supported by broad-based demand trends.He said that since October, the industry has been expanding at a double-digit pace and this trend is expected to continue into the next year. However, growth may moderate in the second half due to a higher base effect.
Overall, the industry is projected to grow in high single digits in the next financial year, with Hero MotoCorp aiming to outpace industry growth through new product launches and sustained brand investments.
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