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News on Medial
Hero MotoCorp Joins ONDC To Sell Two-Wheeler Parts Online
Inc42
·
1y ago
Medial
Hero MotoCorp, a leading automobile company, has joined the Open Network for Digital Commerce (ONDC) in India. Becoming the country's first auto company to join the platform, Hero Motocorp aims to enhance customer convenience through this partnership. Initially, the company will offer two-wheeler parts, accessories, and merchandise on the open network, available through buyer-side apps such as Paytm and Mystore. The integration will enable Hero MotoCorp to offer a digital mode for customers, streamline order processing, and leverage its physical distribution network for hyperlocal deliveries. ONDC is expanding rapidly by onboarding new players onto its network.
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Hero MotoCorp to raise prices of motorcycles, scooters from July 1; here's why
Livemint
·
1y ago
Medial
India's largest two-wheeler manufacturer, Hero MotoCorp, has announced plans to raise the prices of selected motorcycles and scooters in order to offset higher input costs. The price increase, which will take effect from July 1st, could be up to ₹1,500 depending on the specific model and market. The company's move comes as monthly vehicle sales have shown a slight increase, with Hero MotoCorp holding a 29.05% market share in the two-wheeler sector. The Indian two-wheeler market is projected to expand to 86.4 million units by 2032.
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Two-wheeler industry to see double-digit revenue growth next fiscal: Hero MotoCo
Livemint
·
1y ago
Medial
Hero MotoCorp CEO Niranjan Gupta predicts a double-digit revenue growth in the Indian two-wheeler industry for the upcoming fiscal year. He notes a rising demand for premium models and an improvement in the entry-level segment. Gupta highlights the increasing preference for feature-rich motorcycles and observes a positive trend in rural areas as well. Hero MotoCorp plans to upgrade sales outlets to sell premium segment models and has already upgraded 300 dealerships. The company also announced a partnership with Harley-Davidson for developing and selling premium motorcycles in India.
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Hero MotoCorp foresees stable double-digit growth in two-wheeler industry revenue
Thehindubusinessline
·
1y ago
Medial
The domestic two-wheeler industry is expected to experience a double-digit revenue growth in the next fiscal year, driven by demand for premium models, according to Hero MotoCorp CEO, Niranjan Gupta. The company also anticipates a recovery in the entry-level segment. Gupta highlighted a shift towards premiumization in the domestic two-wheeler space, with buyers seeking feature-rich trims. The company plans to upgrade sales outlets to cater to the growing demand for premium models. Additionally, Hero MotoCorp aims to expand its premium portfolio through its partnership with Harley-Davidson.
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Ather Energy's Chief Business Officer Calls for Policy Predictability to Drive Two-Wheeler Electric Mobility
Business Bytes
·
1y ago
Medial
Ravneet S Phokela, Chief Business Officer at Ather Energy, stresses the importance of policy predictability in driving investments for the growth of electric two-wheelers in India. Ather Energy, backed by Hero MotoCorp, aims to achieve 100% electrification of the domestic two-wheeler market by 2030 and emphasizes the need for stable policies and regulatory support for this transition. Investments from established players like Hero MotoCorp and a supportive regulatory environment are crucial for the success of electric mobility in India.
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Hero MotoCorp Eyes Leadership in Electric Two-Wheelers with Affordable Models: CEO
YourStory
·
1y ago
Medial
Hero MotoCorp aims to lead the electric two-wheeler market by introducing affordable models this fiscal year. The company plans to rapidly scale its electric vehicle business and expand its product portfolio. Hero MotoCorp's VIDA electric scooters have seen success in India, and the company hopes to launch them in international markets as well. The company is also partnering with Ather Energy and Zero Motorcycle to create a robust charging infrastructure and develop new EV motorcycles. Hero MotoCorp is focusing on speed, scale, synergy, and simplification, leveraging its significant scale advantage to drive success.
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Hero MotoCorp gets demand notice of ₹605 crore from Income Tax Department
Livemint
·
1y ago
Medial
Hero MotoCorp, the largest two-wheeler manufacturer, has received a tax demand notice from the Income Tax Department amounting to ₹605 crore, including interest, for six assessment years. The notice is related to certain disallowances in assessment years FY14 to FY18 and FY20. Hero MotoCorp stated that it is reviewing the orders and will take necessary actions, including filing appeals and rectification applications. The company had recently reported a 5.5% growth in total sales for FY24, selling 56,21,455 units compared to 53,28,546 units in the previous fiscal year.
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Ather Energy’s net loss widens 22.5% to ₹1,060 cr in FY24
Inshorts
·
1y ago
Medial
Bengaluru-based two-wheeler electric vehicle (EV) manufacturer Ather Energy’s net loss widened 22.5% in the fiscal year ended March 31, 2024 (FY24), as per the annual report of Hero MotoCorp. The EV manufacturer’s net loss jumped to ₹1,059.7 crore in FY24 from ₹864.5 crore in FY23, as per the report.
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All about that BaaS: Can a new business model help Hero MotoCorp turn EV tide?
Livemint
·
1m ago
Medial
Hero MotoCorp has launched its first electric two-wheeler using a battery-as-a-service (BaaS) model, aiming to lower consumer entry barriers and expand the market. The BaaS model offers reduced purchase costs and charges based on usage, with the Vida VX2 Go priced 40% less than its non-BaaS counterpart. Despite this innovative approach, intense competition and ongoing losses in the electric two-wheeler sector suggest it may take years for the company to achieve profitability.
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Bajaj Auto turns the Hero of Nifty pack over last one year for consistency
Money Control
·
1y ago
Medial
Bajaj Auto and Hero MotoCorp have been the top consistent performers in the Nifty over the past year, despite the two-wheeler sector being generally unloved by investors. Adani Ports has also shown consistency in performance, surprising the market given its previous setbacks. In terms of returns, Bajaj Auto has outperformed the index in 10 out of 12 months, while Hero MotoCorp has outperformed in 10 out of 12 months. On the other hand, HDFC Bank, JSW Steel, and United Phosphorous have been lagging behind the Nifty 50.
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Hero MotoCorp launches programme to support startups in automotive industry
Economic Times
·
8m ago
Medial
Two-wheeler manufacturer Hero MotoCorp has launched the Hero For Startups (HFS) program to support startups in the automotive industry. The initiative aims to identify and provide funding to promising startups across India that have the potential to revolutionize the automotive industry. Selected startups will gain access to Hero MotoCorp's research and development facilities in India and Germany, as well as mentorship and networking opportunities with the company's partners and suppliers. They will also have the chance to work on paid proofs of concept (PoCs) with the opportunity to integrate their solutions into Hero MotoCorp's product portfolio.
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