Currently leaders in the motorcycle segment with a 50 percent market share, Hero MotoCorp also targets increased sales and a higher market share where its scooter segment is concerned. The company has noted increased demand for its 100cc Pleasure and 110cc Maestro scooters while the newly launched Duet is also expected to push up market share significantly.
Speaking to CNBC-TV18, Pawan Munjal, Chairman Hero MotoCorp confirms that the company is scouting for opportunities to increase market share while tieups are also being considered.
Hero MotoCorp, with a presence in 25 countries, is set to double this count by 2020 with countries like Argentina, Nigeria and Mexico on the list with talks in final stages and operations in these countries set to commence some time soon. Expansion to other African and Latin American countries are also being planned, all of which will aid the company is extending market share.
Hero Maestro Edge was launched in September 2015 while the Duet also made its presence felt this year. Hero Maestro Edge is priced from INR 49,500 to 50,700 and is offered in two trims LX and VX. The Maestro targets a male audience while the Duet is marketed as a unisex scooter.
Both Maestro and Duet receive front telescopic suspension and combined braking system. They are powered by 110cc air cooled engine offering 8.31bhp power at 8000rpm and 8.30Nm torque at 6,500rpm. The current capacity of Hero MotoCorp stands at 1.3 million units per annum while production of scooters is at 6.5 lakh units.
Hero Duet – Photos
Hero Maestro Edge – Photos