Hero Motocorp Share Price Today: Company crosses 100 Million milestone; rolls out Splendor+, Xtreme 160R, Passion Pro, Glamour and two scooters - Destini 125 and Maestro Edge 110

Hero  Motocorp Share Price Today: Hero MotoCorp, the world’s largest two-wheeler manufacturer sold 485889 units of motorcycles and scooters in January 2021. On January 21, 2021 Hero Motocorp also surpassed the significant milestone of 100 Million (10 Crores) units in cumulative production. The 100 millionth motorcycle, the Xtreme 160R, was rolled-out of the Company’s manufacturing facility in Haridwar, in the northern Indian hill state of Uttarakhand.

To mark the occasion, Hero MotoCorp also introduced six celebration edition models. These include four motorcycles - Splendor+, Xtreme 160R, Passion Pro and Glamour and two scooters - Destini 125 & Maestro Edge 110. These will go on sale from February 2021. Hero MotoCorp share price today was ruling at Rs 3,420.00 (+39.20 / 1.16%)

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In the month of January, Hero MotoCorp entered into a distribution agreement with Grupo Salinas, founded by Mexican entrepreneur Ricardo Salinas. Following the agreement, the two Companies have come together to form one of the largest distribution networks globally to sell competitive, high-quality products in the large Mexican market. Hero MotoCorp will launch nine products across various segments.

In the month of Jan 2021, the Motorcycles segment saw sales of 449037 units vs 494432 units (YoY), Scooters segment saw strong growth, 36852 units sold vs 7190 units (yoy). Domestic sales were at 467776 units vs 488069 units (yoy) and exports were 18113 units vs 13552 units (YoY).

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Hero Motocorp has a clear and solid focus on premium Motorcycles, Scooters, and exports. In these three areas, there are steep internal targets for market share/volume contribution. It is focused on achieving its targeted market share in these categories and has a strategy in place to attain this profitably. It is already inching up its market share in Scooters and premium Motorcycles.

Hero Motocorp has recently entered into a partnership with Harley-Davidson (HD) for: a) distribution of Motorcycles, parts, and official merchandise, and b) design, development, and manufacture of a range of motorcycles to be sold under the latter’s brand. This is a huge and massive endorsement of its R&D and manufacturing capabilities.

There is continuous pressure from the government for the use of alternate fuels like ethanol, methanol, etc. Apart from EVs, there will be more propulsion systems on the road. Management of Hero Motocorp indicated that electrification is here to stay and in times to come, customers would demand clean energy vehicles.

In EVs, Hero Motocorp has a three pronged approach:

a) Ather Energy
b) in-house development
c) own start-up (Hero Hatch - incubator).

It will soon be showcasing its own electric product.