Hero Motocorp is trying hard to get their market share back by trying their luck with new models from old brand. Company is going to launch a new Splendor which will be made totally in India. This product is going to be first home product after the company’s dispute with their partner. Hero Motocorp has displayed this bike last week in the Hero global marketing and sales conference held in Macau to the company’s dealer partners. The new bike named Splendor i-smart is proposed to launch within next few months. Splendor is the World’s most selling bike. It has more than 35% and around 60 lakhs units’ contribution in the annual sales of Hero Motocorp.
According to one of the dealer participated in visiting delegation, the new bike is different than the other bikes present in India. This bike has new Youthful body graphics, new meter console and split grab rail. Overall design of the bike has been changed but it will run on the same 100 cc engine for now. Hero is developing a new engine also. They will fulfill the emission norms also in the next phase. Apart from Splendor, a range of 14 new products has been introduced by the World’s biggest company considering volume. It includes upgrades and variants. These products will be launched in accordance with the festivals.
According to another dealer who participated in Macau annual meet, company had promised them to bring some new products. The new splendor has amazed them. They said that the new bike is based on the current platform. However, this is clear that Hero is developing new platform for the upcoming products. Dealer added that the new product will help the company to co-op up in the increasing market competition.
Domestic market share of Hero Motocorp is 53% but the overall market share of two wheeler segment has decreased to 43% in the current financial year. On the other hand Honda two wheelers had a good growth with an all time high level of 22%. Bajaj Auto and TVS Motors are way behind these companies in terms of market share. Company has also introduced the refreshed version of their high end bike Karizma.