Introduction to Hero MotoCorp
Hero MotoCorp, headquartered in Delhi, India, is recognized as one of the world’s largest manufacturers of motorcycles and scooters. With a market share of approximately 46% in the Indian two-wheeler industry as of May 27, 2021, Hero MotoCorp has established itself as a frontrunner in the market. Since its inception, the company has achieved remarkable success, selling over 100 million motorcycles and scooters globally.
Overview of Hero MotoCorp
Hero MotoCorp’s journey as a motorcycle and scooter manufacturer has spanned decades, and it has consistently held the position of the largest manufacturer for the past 21 consecutive years. This achievement reflects the company’s commitment to excellence and innovation. Hero MotoCorp has a strong presence not only in India but also in international markets, with its products available in more than 43 countries across Asia, Africa, the Middle East, and South and Central America.
Hero MotoCorp’s product portfolio caters to a diverse range of customers, offering motorcycles and scooters that meet the needs of various types of riders. From daily commuters to adventure enthusiasts, Hero MotoCorp provides a wide range of options to suit different preferences and riding styles (ZigWheels). With a focus on continuous innovation and customer satisfaction, Hero MotoCorp strives to deliver high-quality products that combine performance, style, and reliability.
Global Expansion and Market Position
While Hero MotoCorp has a strong foothold in the Indian market, the company has also expanded its presence globally. Its motorcycles and scooters are now available in multiple countries, making Hero MotoCorp a truly global brand. By leveraging its expertise and understanding of diverse markets, Hero MotoCorp has successfully established itself in different regions worldwide (Accenture Newsroom).
As the market leader in India, Hero MotoCorp’s market share speaks volumes about its dominance in the industry. Holding approximately 46% of the Indian two-wheeler market, the company has consistently outperformed its competitors, showcasing its ability to understand and cater to the demands of Indian consumers.
With a strong foundation, a commitment to quality, and a focus on customer satisfaction, Hero MotoCorp continues to be a force to reckon with in the motorcycle and scooter industry. The company’s dedication to innovation and expansion sets the stage for continued success in the global market.
Hero MotoCorp’s Product Portfolio
Hero MotoCorp offers a diverse range of motorcycles and scooters, catering to the needs and preferences of riders across various segments. The company’s product portfolio showcases a combination of practical, executive, performance, and scooter models.
Range of Motorcycles and Scooters
Hero MotoCorp’s motorcycles and scooters cover a wide range of displacements and categories. The lineup includes models such as:
| Segment | Models |
|---|---|
| Practical | Splendor+, Splendor+ XTEC, HF Deluxe, HF 100 |
| Executive | Glamour, Passion+, Super Splendor, Glamour XTEC, Passion XTEC |
| Performance | Xtreme 125R, Xtreme 200S 4V, Xtreme 160R 4V, XPULSE 200 4V, XPULSE 200T 4V, Xtreme 160R |
| Scooters | Destini Prime, Xoom, Pleasure+ XTEC, Destini 125 XTEC |
(Source: Hero MotoCorp)
These motorcycles and scooters are designed to cater to different customer preferences, providing options that range from practical and fuel-efficient models to performance-oriented bikes.
Segment-wise Offerings
Hero MotoCorp’s product portfolio is strategically segmented to address the specific requirements of riders. The motorcycles and scooters are categorized into different segments based on their features, performance, and target audience. This segmentation allows the company to target a wide range of customers and meet their specific demands.
Key Models and Features
Hero MotoCorp’s product portfolio includes several key models that have gained popularity among riders. Some of these models include:
- Splendor+: Known for its practicality and fuel efficiency, the Splendor+ offers a comfortable riding experience for everyday commuters.
- Xtreme 160R: This performance-oriented motorcycle combines power and style, making it a popular choice among enthusiasts.
- Destini Prime: Hero MotoCorp’s scooter model, the Destini Prime, offers convenience, comfort, and features suitable for urban commuting.
Each model in Hero MotoCorp’s product portfolio comes with its unique set of features, engine specifications, and design elements. Customers can choose from a variety of options and select the motorcycle or scooter that best suits their preferences and riding needs.
By offering an extensive range of motorcycles and scooters, Hero MotoCorp aims to provide a comprehensive product lineup that caters to the diverse requirements of riders across different segments.
Hero Maverick: The Premium Offering
Hero MotoCorp is set to make a significant addition to its product portfolio with the introduction of the Hero Maverick motorcycle on January 23rd, 2023. This highly anticipated model will mark its global debut in the two-wheeler market.
Introduction to Hero Maverick
The Hero Maverick is expected to be a premium offering, positioned above the existing Xtreme and Xpulse range in Hero MotoCorp’s product lineup. This new addition aims to cater to the evolving demands of modern riders, who seek cutting-edge design elements and advanced capabilities in their motorcycles.
Design and Advanced Capabilities
The Hero Maverick is anticipated to showcase a host of innovative features and design elements that set it apart from other models in the Hero MotoCorp range. While specific details are yet to be unveiled, riders can expect a combination of style, performance, and advanced technologies to enhance their riding experience. This premium offering aims to provide riders with a motorcycle that not only stands out in terms of aesthetics but also delivers exceptional performance on the road.
Positioning in Hero MotoCorp’s Product Portfolio
With the launch of the Hero Maverick, Hero MotoCorp aims to strengthen its presence in the premium motorcycle segment. The introduction of newer products like the XPulse, Xtreme 160R, and Xtreme 200S has already contributed to the company’s growth in the premium bike segment, leading to an increase in market share.
By diversifying its product offerings and targeting the premium segment, Hero MotoCorp aims to cater to a wider audience and meet the demands of enthusiasts seeking high-performance motorcycles. The Hero Maverick is expected to play a significant role in achieving this objective, solidifying Hero MotoCorp’s position as a leading multinational motorcycle and scooter manufacturer.
As Hero MotoCorp continues to expand its product portfolio and introduce premium offerings, customers can look forward to a range of motorcycles and scooters that combine style, performance, and advanced technologies to meet the needs of riders across various segments.
Hero MotoCorp’s Market Strategies
Hero MotoCorp has implemented several market strategies to strengthen its position in the motorcycle and scooter industry. These strategies have contributed to its market share growth and focus on the premium segment, while leveraging its distribution network.
Market Share and Growth
Hero MotoCorp has made significant strides in increasing its market share, particularly in the premium bike segment. By introducing newer products like the XPulse, Xtreme 160R, and Xtreme 200S, Hero MotoCorp has been able to improve its presence in the premium segment (Live Mint). As a result, its market share in the 150cc+ segment has risen from just 3% in FY21 to 29%. Additionally, Hero MotoCorp’s market share in the sports bike segment has jumped from 2% to an impressive 32% within a year, highlighting the success of its premium offerings.
Focus on Premium Segment
Hero MotoCorp has strategically focused on the premium segment of the motorcycle market. By expanding its product line with more premium offerings, such as the XPulse, Xtreme 160R, and Xtreme 200S, the company has effectively addressed the competitive threat in the sports and premium segments (Live Mint). This focus on premium bikes has allowed Hero MotoCorp to capture a larger share of the market and cater to the evolving preferences of consumers.
Leveraging Distribution Network
One of Hero MotoCorp’s key strengths lies in its extensive distribution network. The company has successfully leveraged this network to push its premium products and drive growth in the market. By utilizing its well-established distribution channels, Hero MotoCorp has been able to effectively reach its target audience and generate demand for its premium motorcycles and scooters (Live Mint). This strategic utilization of its distribution network has played a vital role in expanding its market share and ensuring widespread availability of its products.
By implementing these market strategies, Hero MotoCorp has been able to strengthen its market position, focus on the premium segment, and leverage its distribution network to drive growth. These strategies have allowed the company to capture a larger share of the motorcycle and scooter market, particularly in the premium and sports bike segments.
Hero MotoCorp’s Supply Chain Transformation
As Hero MotoCorp expands its product portfolio and aims for global growth, the company has recognized the need for a streamlined and efficient supply chain. To achieve this, Hero MotoCorp has entered into a strategic partnership with Accenture, a global professional services company, to transform its supply chain operations (Accenture Newsroom).
Strategic Partnership with Accenture
The partnership with Accenture is a strategic move by Hero MotoCorp to simplify its operations, improve profitability, and create capacity for expanding its product portfolio and entering new markets. Accenture brings its expertise in supply chain management and will work closely with Hero MotoCorp to optimize its supply chain processes (Accenture Newsroom).
Zero-Based Supply Chain Approach
To facilitate cost optimization efforts across its supply chain, Hero MotoCorp and Accenture are adopting a zero-based supply chain (ZBSC) approach. This approach involves thoroughly analyzing each aspect of the supply chain and identifying opportunities for optimization and cost reduction. By applying the ZBSC approach, Hero MotoCorp aims to improve operational efficiency and drive profitability.
Benefits and Objectives
The supply chain transformation program with Accenture is expected to provide Hero MotoCorp with several benefits. One of the key objectives is to improve visibility across the supply chain, enabling the company to better meet customer requirements and respond quickly to ongoing disruptions. By leveraging data and analytics, Hero MotoCorp will be able to optimize supply chain costs and enhance overall operational performance.
Through this transformation, Hero MotoCorp aims to create a more agile and resilient supply chain network. This will enable the company to adapt to changing market dynamics, efficiently manage inventory, and deliver products to customers in a timely manner. By enhancing its supply chain capabilities, Hero MotoCorp is positioning itself for sustainable growth in the competitive motorcycle and scooter industry.
As Hero MotoCorp continues to expand globally and explore opportunities in electric vehicles, an efficient supply chain will be crucial for driving its future growth. The partnership with Accenture and the adoption of the zero-based supply chain approach demonstrate Hero MotoCorp’s commitment to optimizing its supply chain operations and delivering high-quality products to customers worldwide.
Hero MotoCorp’s Product Portfolio
Hero MotoCorp offers a diverse range of motorcycles and scooters, catering to a wide range of customers. Their product portfolio includes models across various segments, each with its own unique features and capabilities. Let’s explore Hero MotoCorp’s product offerings in more detail.
Range of Motorcycles and Scooters
Hero MotoCorp’s product portfolio encompasses motorcycles and scooters, providing options for different preferences and requirements. The motorcycles are available in different engine displacements, ranging from 100 CC to 200 CC, allowing customers to choose the power and performance that suits them best. The scooters, on the other hand, offer convenient and practical transportation solutions for urban commuters.
Segment-wise Offerings
Hero MotoCorp caters to different market segments with its product lineup. They offer motorcycles in segments such as:
- Practical: This includes models like Splendor+, Splendor+ XTEC, HF Deluxe, and HF 100. These motorcycles are designed to be efficient, reliable, and suitable for everyday commuting needs.
- Executive: Models like Glamour, Passion+, Super Splendor, Glamour XTEC, and Passion XTEC fall under this segment. They provide a balance between style, comfort, and performance, making them suitable for urban riders.
- Performance: Hero MotoCorp offers motorcycles like Xtreme 125R, Xtreme 200S 4V, Xtreme 160R 4V, XPULSE 200 4V, XPULSE 200T 4V, and Xtreme 160R in this segment. These motorcycles focus on delivering exhilarating performance and sporty styling.
- Scooters: Hero MotoCorp’s scooter lineup includes models like Destini Prime, Xoom, Pleasure+ XTEC, and Destini 125 XTEC. These scooters provide practicality, convenience, and ease of use for urban commuting.
Key Models and Features
Within each segment, Hero MotoCorp offers a range of models, each with its own set of features and specifications. The motorcycles come with different engine specifications, such as single-cylinder, air-oil cooled, and long-stroke engines. The scooters, on the other hand, prioritize comfort, convenience, and fuel efficiency.
To provide a comprehensive overview of their product portfolio, Hero MotoCorp emphasizes the importance of end-to-end customer services. They offer services, maintenance schedules, warranty details, and even an annual maintenance package called Hero Joyride, which provides benefits and savings for customers during servicing.
By offering a wide range of motorcycles and scooters across various segments, Hero MotoCorp caters to the diverse needs and preferences of their customers. Their product lineup showcases a combination of practicality, performance, and convenience, ensuring that riders can find the right two-wheeler to suit their individual requirements.
