Hero MotoCorp to bring three new models in early 2015
India’s leading two-wheeler manufacturer Hero MotoCorp is contemplating to launch three new models in the domestic market, of which two new models will be scooters. The company is planning to launch these new products in early 2015.
Apart from its product portfolio expansion, Hero MotoCorp is also planning to expand its production capacity as well. The company is all set to begin the construction of its manufacturing plant in Gujarat very soon, and is also planning to make it operational by the third quarter of the next fiscal of 2015-16. The Vice Chairman & Managing Director of Hero MotoCorp India, Mr. Pawan Munjal told the media personnel on the sidelines of the SIAM annual convention that the company will start rolling out new scooters in the early part of next year. He added that two new scooters and one new motorcycle model are on the anvil at present.
Munjal also added that during the imminent festive season, the company also plans to launch 12 refreshed models of the existing range. He further revealed that these 12 new updated two-wheeler variants will have improved features including engines, and all the 12 bikes would be launched during this year’s festive season. Thus, the Indian bike lovers will get an entire refreshed lot from Hero MotoCorp. When Munjal was asked about the sales expectations of the company during the festive season, he said that he is very optimistic about the festival season. As the Indian market sentiments are also better now, the market will further improve. The company is expecting to get better sales volumes this year as compared to last year.
Hero MotoCorp had sold 6 lakh two-wheelers during last year’s festive season. While speaking about the company’s upcoming Gujarat facility, Pawan Munjal told the reporters that the company will start the construction of the plant soon and will inaugurate the factory in the third quarter of next financial year. The new Gujarat plant would have a total capacity of producing 1.8 million units per year. Hero MotoCorp’s present production capacity stands at 7.65 million units annually.
When asked whether the company is going to hike the prices of its products, Munjal said that there is certainly a pressure on pricing, there will be some price alterations in some models. He did not offer any specific details on the pricing part. Munjal also threw some light on the company’s overseas plans, and said that the company is seriously considering Argentina, and a team is going there to study the market. Hero MotoCorp is optimistic about finding a partner in Argentina to start operations. Munjal also said the Hero MotoCorp will commence operations in Brazil in 2016.
About the company’s US market plans, he said that Hero MotoCorp would enter the US market in the summer of 2016. Munjal added that the company would set up distribution in the country, but is yet to finalize the branding.
Source : Economictimes