Hero MotoCorp able to attain 100 million (10 crores) production milestone in FY21
Name things larger than Hero MotoCorp’s 100 million two-wheelers. You get the gist. It’s a stat difficult to compete with. The two-wheeler manufacturer is capable of selling upward of 5 lakh units on a monthly basis at any given time as demand permits. Over time, Hero MotoCorp has increased the number of its manufacturing units. This in tandem with demand increase, and future sales projections.
Demand is met through Hero MotoCorp’s 8 facilities. Of them, 6 are in India, and one each, in Bangladesh and Colombia. manufacturing plants in India are operational at Gurgaon, and Dharuhera in Haryana, Neemrana in Rajasthan, Halol in Gujarat, and in Haridwar. The 6th plants started ops in Chittoor, Andhra Pradesh last year.
Cumulative installed manufacturing capacity in India currently stands at 11.6 million units per annum. Production capacity is listed as follows – 1.7 mn at Haridwar, UK); 2.1 mn at Dharuhera, Haryana; 2.1 mn at Gurgaon, HR, 1.1 mn at Neemrana, Rajasthan; 1.8 mn at Vadodara, Gujarat; and 1.8 mn at Chittoor, AP. It’s newest plant will reach full production capacity in three phases.
Hero MotoCorp growth story
As early as 2014, Hero MotoCorp was on the path to 12 mn unit sales by 2020. This was later revised to 10 mn in unit sales by 2020. During the course, some targets have been revised. For starters, sales in export markets haven’t met targets projected earlier.
Consistently over the past 5 years, Bajaj and TVS have continued business in the domestic market with relatively lower sales than Hero MotoCorp. However, in the exports market, both companies have outdone Hero MotoCorp. Hero’s global footprint spans 40 countries.
In the domestic market, Hero’s market share remains at half the total market owing to the success of its Splendor motorcycle range. Making it the largest single selling brand/motorcycle globally. Brand’s next five-year plan will see Hero MotoCorp introduce over 10 products each year. They include variants, refreshes and upgrades, and premium motorcycles.
100 millionth unit a Hero Xtreme 160R
It was earlier reported that Hero MotoCorp was on path to report 100 million units sold during FY21. That day has arrived. Dates of course are likely to have been shifted around a bit. This owing to the chaos of Covid-19 pandemic related outcomes through 2020.
The 75 million mark was announced in 2017. The 50 million mark was reached in 2013. The last 50 mn units came in a period of only 7 years making Hero MotoCorp quite the unstoppable force. The company looks forward to yearlong celebrations to mark the momentous occasion.
The occasion saw brand global icon Shah Rukh Khan visit the Gurgaon plant. The rollout of the 100th million unit. This was done at the Haridwar plant. The unit being a Hero Xtreme 160R. Consequently, the company has now introduced 6 special edition two-wheelers of its existing lineup. They are The Splendor+, Xtreme 160R, Passion Pro, Glamour (motorcycles) and Destini 125, Maestro Edge 110 (scooters) celebration editions. And will go on sale from February 2021.