Page 2 - Hero Motocorp

Hero MotoCorp Q3 net profit rises 3.6%, beats estimates on price hikes

Hero MotoCorp has hiked vehicle prices four times so far in the current fiscal year

Hero MotoCorp Chairman Munjal hails Budget; seeks GST cut on two-wheelers

Hero MotoCorp Chairman Pawan Munjal has called for a reduction in GST on two-wheelers to 18 per cent from current 28 per cent, while lauding the Union Budget 2023-24 as the dawn of a new high-growth economy, ensuring India's increased contribution to the global economy. The veteran auto industry leader noted that the two-wheeler segment, which has been witnessing subdued sales over the last few years, needs government support in terms of taxation. "There is a clear case for reducing the GST slab from 28 per cent to 18 per cent for the two-wheeler category, which has been adversely impacted over the past few years. This category is a means of mass mobility and should not be clubbed along with the luxury and sin goods category for GST slabs," Munjal said in a statement. He also said: "Further, now that the GST collections are buoyant, I urge the GST council to take this up since this segment is an income multiplier and its growth will boost the economy." Hero MotoCorp, the country's

Hero MotoCorp puts scooter play in higher gear with Xoom

Sporty-looking vehicle will come in three variants, prices start Rs 68,599

Hero MotoCorp starts deliveries of e-scooter VIDA in Delhi; aims expansion

The country's largest two wheeler maker Hero MotoCorp on Wednesday said it has commenced deliveries of its electric scooter VIDA V1 in Delhi after having started the process in Bengaluru and Jaipur. The company said it is planning rapid expansion of its sales and charging network across multiple cities coinciding with the start of the sales process. "We have completed the first phase of our plan with commencement of deliveries in all three cities...Our next target is to expand our sales and charging network in India and global markets," Hero MotoCorp Head Emerging Mobility Business Unit (EMBU) Swadesh Srivastava said in a regulatory filing. Hero MotoCorp had launched VIDA V1 in October last year in two variants Pro and Plus. VIDA V1 competes with the likes of OLA S1 Pro, Ather 450X and TVS iQube.

Hero MotoCorp commences delivery of electric scooter VIDA V1 in Jaipur

Hero MotoCorp on Sunday said it has commenced deliveries of its electric scooter VIDA V1 in Jaipur with plans to introduce the brand in many other locations this year. The country's largest two-wheeler maker had earlier commenced deliveries of the model in Bengaluru. "We are now gearing up to expand our presence and further penetrate the market. Deliveries will next begin in Delhi," Hero MotoCorp Head Emerging Mobility Business Unit (EMBU) Swadesh Srivastava said in a statement. The company aims to propagate clean mobility through a seamless and hassle-free customer experience through an omni-channel approach, he added. VIDA currenty has experience centres in Bengaluru and Jaipur, and pop-up stores in Delhi-NCR, where customers can test ride VIDA V1. Deliveries in Delhi are expected to begin soon. Hero MotoCorp had launched VIDA V1 in October last year in two variants Pro and Plus. VIDA V1 competes with the likes of OLA S1 Pro, Ather 450X and TVS iQube.

Auto firms have foot on price pedal, even as commodity costs tail off

Between March 31 last year and January 13 this year, the prices of raw materials such as Aluminium, Copper and Tin have decreased at the London Metal Exchange

Two-wheeler sales growth muted in Dec on dull rural demand, high inflation

Top-5 players post a combined sales growth of just 3% YoY; experts expect recovery to take some time

Hero MotoCorp total sales fall marginally to 394,179 units in Dec

Two-wheeler maker Hero MotoCorp on Monday reported a marginal decline in total sales at 3,94,179 units for December 2022. The company had sold 3,94,773 units in the same month a year ago, Hero MotoCorp said in a statement. Domestic sales were higher by 1.83 per cent at 3,81,365 units as against 3,74,485 units in December 2021. Exports were, however, lower at 12,814 units as compared to 20,288 units in the year-ago month, the company said. Total motorcycle sales in December 2022 stood at 3,56,749 units as against 3,76,862 units in the same month a year ago. On the other hand, scooter sales were higher at 37,430 units as compared to 17,911 units in December 2021. In the three quarters of financial year 2022-23, the company said it sold more than 40.58 lakh units, a rise of 8 per cent as compared to the year-ago period.

Hero MotoCorp commences VIDA V1 electric scooter deliveries in Bengaluru

Hero MotoCorp on Friday said it has commenced customer deliveries of its first electric scooter VIDA V1. The first electric vehicle of the brand was delivered in Bengaluru. Deliveries in Jaipur and Delhi will follow, the company said in a statement. "Our vision with VIDA is to establish future oriented mobility trends that will benefit the customers as well as the planet. With the commencement of customer deliveries, we are beginning to realise our vision," Hero MotoCorp Chairman and CEO Pawan Munjal said. In October this year the company had forayed into the electric vehicle segment with the launch of VIDA V1, which comes with removable batteries and three-way charging options. The electric scooter has a range of 163 km on a single charge with a top speed of 80 km/hr. It is available in two variants VIDA V1 Plus at Rs 1,35,705 and VIDA V1 Pro at Rs 1,46,880 (effective on-road price Delhi), inclusive of all connected features, portable charger and charging service.

Hero MotoCorp announces resignation of Malo Le Masson; CFO takes charge

Two-wheeler maker Hero MotoCorp on Friday announced the resignation of its head of strategy, mergers and acquisitions, and global product planning Malo Le Masson, who has decided to pursue opportunities outside the company. Subsequently, Chief Financial Officer Niranjan Gupta has been given additional charge of heading strategy, mergers and acquisitions for the company, while Executive Director Vikram Kasbekar has been given the responsibility to head the key function of global product planning as an interim charge, Hero MotoCorp said in a regulatory filing. Le Masson was with Hero MotoCorp for more than six years and will continue working with the company until the end of December 2022. Gupta has been the CFO for the past six years. He is also a director on the board of several associate companies, including Ather Energy, an associate company in the electric vehicle space; HMCMM Auto Pvt Ltd, a Joint venture for fuel injection systems, and HMCL Colombia, a subsidiary of HMCL for it

Sensex snaps 8-day winning run, ends 415 pts lower; IT, Auto stocks weigh

CLOSING BELL: The NSE Nifty shut shop at 18,696, down 117 points. Broader indices - BSE Midcap and Smallcap bucked the trend, and were up 0.8 per cent and 0.7 per cent, respectively, on Friday.

Auto shares trade weak post November sales; Eicher, M&M down up to 3%

M&HCV segment witnessed mixed performance while LCV segment witnessed near double digit de-growth leading to overall de-growth in CV space.

Two-wheeler sales rise in Nov at most manufacturers on last year's low base

Some of the uptick is also attributable to the marriage season which usually perks up the volumes in the northern part of the country

Two-wheeler sales extend recovery; Hero MotoCorp posts 15.5% growth

This is the eighth consecutive month of increase in sales in the world's largest market for scooters and motorcycles

Hero MotoCorp wholesales rise by 12% to 390,932 units in November

The country's largest two wheeler maker Hero MotoCorp on Thursday said its wholesales increased by 12 per cent to 3,90,932 units. The company dispatched 3,49,393 units in November 2021. In a statement, Hero MotoCorp said it expects the momentum to build-up in the coming quarters on account of favourable economic indicators, including encouraging farm activity and positive consumer sentiments along with upcoming marriage season. In the domestic market, the company's sales rose to 3,79,839 units as compared with 3,28,862 units in November last year. However, exports declined to 11,093 units last month from 20,531 units in 2021.

Hero MotoCorp to hike prices from December 1; stock gains nearly 4%

The company said it will increase the prices of its motorcycles and scooters by up to Rs 1,500, with effect from December 1, due to inflationary cost pressures

Stocks to Watch: Hero MotoCorp, Castrol, Tata Consumer, HFCL, Bikaji Foods

Stocks to Watch Today: Bikaji Foods, Castrol, Hero MotoCorp, Godrej Properties, Tat Consumer, pharma and insurance related shares are likely to be in focus on Monday.

Hero MotoCorp to hike prices from Dec 1 due to inflationary costs

The country's largest two-wheeler maker Hero MotoCorp on Friday said it will increase the prices of its motorcycles and scooters by up to Rs 1,500, with effect from December 1. The price will increase up to Rs 1,500, and the exact quantum of the hike will vary by specific models and markets, the company said in a statement. "The upward revision of the prices of our motorcycles and scooters has been necessitated due to overall inflationary costs," Hero MotoCorp Chief Financial Officer Niranjan Gupta said. The company will continue to provide innovative financing solutions in order to cushion the impact on the customers, he added. "We have also put in place accelerated savings programmes, which will help us to offset any further cost impact, and drive improvement in margins," the two-wheeler major said. Moving forward, the economic indicators are favourable to a growth in demand, and the company expects industry volumes to pick up in coming quarters, it added.

Harley back in saddle: Rides with Hero for 'most affordable' bike

The mid-segment bike will be the first among several models planned, will be sold separately by both companies under their own brands

Hero MotoCorp opens first VIDA experience centre; commences test rides

Hero MotoCorp on Monday said it has opened its first experience centre in Bengaluru for its electric two-wheeler brand VIDA. The country's largest two-wheeler maker said it has also commenced customer test-rides of the VIDA V1 electric scooter from Monday. VIDA plans to open experience centres next in Jaipur and then Delhi with customer deliveries of the V1 scooter expected to commence from the second week of December, it added. "This experience centre is a manifestation of our vision to build experiences that create curiosity, meaningfulness and that people connect with, Hero MotoCorp , Head Emerging Mobility Business Unit (EMBU Swadesh Srivastava) said in a statement. This centre is one of the many physical assets of our omnichannel approach. Our tech-stack and physical assets are built to uplift the customer experience from just entering into a space of retail to a space where they can be part of a larger story, Srivastava said. In October , Hero MotoCorp introduced two trims