The $3-billion conglomerate Hero Group is making a foray into electric three-wheeler segment, expanding its core portfolio of bicycles and two-wheelers.
India's largest motorcycle maker, Hero Honda Motors Ltd, launched its cheapest 100 cc motorbike yet on Wednesday, hoping to blunt competition from main rival Bajaj Auto Ltd.
The updated Hero Xtreme packs in a lot of goodies which amplifies its value for money quotient even further, says Faisal Ali Khan of MotorBeam.com
With the iSmart, Hero has given the Splendor a world first technology which boosts the efficiency of this frugal motorcycle even further.
The Ministry of Heavy Industries has approved 11 electric vehicle (EV) manufacturers, including Ather Energy, Bajaj Auto, Hero MotoCorp, Ola Electric, and Mahindra, to receive incentives under the recently introduced Electric Mobility Promotion Scheme (EMPS) 2024. "A total of 11 firms have been granted approval under the EMPS, with several more under consideration," informed a senior official of the ministry to Business Standard. The scheme aims to sustain the growth in EV sales, replacing the Faster Adoption and Manufacturing of Electric Vehicles - II (FAME-II) scheme.
The proposed exemption in customs duty on import of lithium, cobalt and other rare minerals in the Union Budget 2024-25 is likely to lower the battery production cost and help in making electric vehicles more affordable for the buyers, auto industry leaders said on Tuesday.
The new four-wheeler (4W) electric vehicle (EV) policy may spur the entry of global majors. The manufacturing policy cuts Customs duty to 15 per cent, given a minimum investment commitment. It calls for a minimum investment of Rs 4,150 crore (about $500 million) for making electric four wheelers (e-4Ws), with manufacturing to commence within three years of approval.
According to media reports, while Honda is planning to sell 20 per cent stake to the other promoter, Munjal family of the Hero Group, it is looking at selling 6 per cent to private equity firm KKR.
The ride so far has been a smooth one. But to protect market share, Hero Honda will need to have a bigger presence in the executive segment.
Atul Sobti, executive director of sales and marketing, Hero Honda Motors Ltd has quit, after completing over seven years in the company.
Hero Honda Motors, India's largest motorcycle maker, launched a variant of its 110cc motorcycle Splendor on Monday.
Now, you can own a two-wheeler for Rs 18.5 per day
After lagging behind other segments in the automotive (auto) space over the past few years, two-wheelers are expected to reverse their volume underperformance. After witnessing a 36.3 per cent volume decline over the 2018-19 (FY19) through 2021-22 (FY22) periods, the sector staged a recovery in 2022-23 (FY23), with volumes rising 17 per cent. While volumes are still a quarter lower than the FY19 peak of 21 million units, a double-digit growth trajectory is expected to prolong.
Automobile manufacturers are likely to report strong numbers for the September quarter of Financial Year 2023-24 (Q2 FY24), riding on growth across segments and offset by a marginal drop in overall two-wheeler (2W) volumes. Higher average selling price (ASP) year-on-year (YoY), which was necessitated by price hikes taken by original equipment manufacturers (OEMs), and an improved product mix will also aid revenues and margins. Moreover, commodity prices are down on a YoY basis, leading to higher margins in earnings before interest, taxes, depreciation and amortisation (Ebitda).
In its bid to beat a sluggish market, country's largest two-wheeler maker Hero Honda is introducing three new variants of its entry level and executive segment bikes priced between Rs 35,800 and Rs 55,450 (ex-showroom Delhi).
Should you buy the recently-launched Hero Splendor iSmart 110 for Rs 58,000? Narendra Sharma reviews the all-new 110cc Splendor iSmart.
Arun Mohan Nadar was impressed with this indigenously developed bike
Sales for Hero's all-new Maestro Edge scooter will commence from October while the Duet will be launched in the following weeks positioned below the flagship Edge, says Indian automobile website MotorBeam.
With more features and frills, the updated Hero Xtreme seems worth a bang for the buck, says Faisal Ali Khan of MotorBeam.com
A round-up of the Ranji Trophy matches played on Monday
In a relief to two-wheeler major Hero Honda Motors, a tax tribunal has ruled in favour of the company in a case filed by the Excise department for alleged duty evasion to the tune of Rs 2 crore (Rs 20 million).
Since the Covid pandemic, bicycle sales have surged, orders are pouring in, and stores are already feeling a shortage. 'I have not seen this kind of excitement around bicycles and you are talking to a 57-year-old man,' said Pankaj M Munjal, chairman and managing director, Hero Motors Company (HMC), the largest Indian bicycle producer;
Hero Honda announced on Monday the launch of its fuel-injection technology motorcycle Glamour FI, whose prices start from the range of Rs 49,990.
Other losers included Vedanta, Tata Steel, NTPC, ONGC, L&T, M&M, Coal India, Maruti, PowerGrid, Axis Bank, ITC and HDFC, dropping up to 5.75 per cent. On the other hand, Kotak Bank, Bharti Airtel, HCL Tech, Bajaj Finance and Hero MotoCorp rose up to 0.95 per cent.
The Hero Glamour might be a hot seller but it isn't as impressive as its popularity suggests. The bike doesn't have as much performance as you would expect from a 125cc motorcycle, says Faisal Ali Khan.
India's largest two wheeler-maker Hero Honda will pay Honda 45 billion yen (about Rs 2,4.5 billion) till 2014 as part of a new licencing agreement signed between the Hero Group and the Japanese auto major after deciding to part ways on their joint venture.
To sell its 26 per cent stake to the Munjals for $1.2 billion.
After splitting with Honda, the company is working on developing it own intellectual property.
Hero Honda Motors, the country's largest motorcycle maker, has expressed confidence of maintaining its industry leadership by achieving double-digit growth in volume and revenue and much higher growth in profits during the next three years.
The Honda CD110 Dream is a motorcycle which is aimed at winning Hero Splendor customers
Hero Honda Motors, India's biggest motorcycle maker, has scaled up sales target by 20 per cent this fiscal and will launch a motorcycle in the last quarter of 2004-05, a top company official said on Friday.
The Softbank-backed company has set a price band of Rs 72 to Rs 76 per share for the maiden share sale and is expected to test the appetite for new-age loss-making companies.
At Rs 53,900, the Hero Splendor Pro Classic is the cheapest cafe racer motorcycle in the world, says Faisal Ali Khan of MotorBeam. The other locally manufactured cafe racer styled motorcycle is the Royal Enfield Continental GT.
The US Federal Reserve's interest rate decision, global cues, macroeconomic data announcements and the ongoing quarterly earnings are the major triggers that will dictate trends in stock markets this week, analysts said. Besides, the trading activity of foreign investors and the movement of global oil benchmark Brent crude will also be tracked. "All eyes are on the outcome of the US Federal Reserve meeting scheduled for November 1, particularly due to the multi-year high levels of the US bond yields.
Hero Honda Motors is planning to enter the scooter market with its first launch slated for year-end.
Hero Honda Motors Ltd on Wednesday said it would pump in Rs 200 crore (Rs 2 billion) this fiscal for capacity expansion and new model launches, including its much-awaited scooter models.
Hero promoters, the Munjals, have an agreement for sourcing technology and two-wheeler models from Honda till 2014.
At Rs 80,000 (on-road,Pune), the bike is priced slightly lower than its carbureted competitors like the Pulsar AS150 and Suzuki Gixxer. But when it comes to styling, overall refinement and dynamics, the Xtreme Sports has a lot of catching up to do, says Narendra Sharma
A slew of new products in the mid-segment line-up like Star City Plus and Victor, an agreement with global brand BMW to launch new range of bikes and a strong marketing push is what the Chennai-based automaker has up its sleeves to take on established players in the two-wheeler market.
