Long-Term Outlook Of Two-Wheeler Industry Positive: Munjal
Highlights
- Industry facing short-term challenges, says Pawan Munjal
- Overall growth story in Indian two-wheeler industry still strong
- Festive season demand to provide stability to two-wheeler industry
The Indian two-wheeler industry may be facing short-term challenges in the face of the COVID-19 pandemic and subsequent lockdowns, but the overall growth story remains positive, Hero MotoCorp has said in its annual report for 2019-20. Sharing information with the company's shareholders, Hero MotoCorp Chairman Pawan Munjal noted that there remains ample growth opportunities for the company, both in domestic, as well as international markets. The company's investments in R&D over the past five years have been twice that of other players in the industry, Munjal said.
"The short-term business outlook remains uncertain due to the COVID-19 pandemic. However, the long-term story of India and that of the two-wheeler industry remains intact, strong and positive. There are ample growth opportunities in India, as well as the global markets to grow our business to new heights," Munjal said in his statement to the company's shareholders in Hero MotoCorp's annual report.
"Our investments in R&D over the past five years have been twice that of the other players in the industry. We will continue to invest in brands and R&D to sustain our growth in the future," added Munjal.
Also Read: Hero Xtreme 160R Launched At Rs. 99,950
Speaking about Hero MotoCorp's product portfolio, Munjal underscored the company's strengths in the entry-level and executive segments, as well as new momentum in the entry-level premium two-wheeler segment with several products. India's largest two-wheeler manufacturer said it expects the domestic two-wheeler segment to stabilise in the next 2-3 months, at the same time expecting demand to be robust this fiscal with people expected to opt for personal mobility amidst the coronavirus pandemic. According to Hero MotoCorp, the industry is expected to stabilise by the festive season and pent-up demand will provide the much-anticipated boost to the industry.
Also Read: 2020 Hero XPulse 200 Launched At Rs. 1.11 Lakh
Hero MotoCorp launched the new Hero Xtreme 160R, a premium commuter motorcycle which the company expects will help cement its position in the high-volumes 150-160 cc motorcycle segment. Hero has also launched the updated BS6 model of the Hero XPulse 200, the entry-level adventure bike, which has managed to gain popularity among adventure-seekers as a do-it-all motorcycle at a budget.
Last Updated on July 21, 2020
Related Articles
Latest News
Popular Hero Models
- Hero XPulse 200 4VEx-Showroom Price₹ 1.44 - 1.51 Lakh
- Hero Splendor PlusEx-Showroom Price₹ 69,380 - 72,900
- Hero HF DeluxeEx-Showroom Price₹ 62,002 - 68,522
- Hero HF Deluxe i3sEx-Showroom Price₹ 69,152
- Hero Super SplendorEx-Showroom Price₹ 79,118 - 87,268
- Hero Passion Pro i3SEx-Showroom Price₹ 67,400 - 71,400
- Hero HF 100Ex-Showroom Price₹ 49,400
- Hero Glamour 125Ex-Showroom Price₹ 83,598 - 97,598
- Hero Pleasure Plus 110Ex-Showroom Price₹ 61,900 - 79,738
- Hero Maestro EdgeEx-Showroom Price₹ 65,900 - 71,200
- Hero Destini 125Ex-Showroom Price₹ 70,590 - 82,290
- Hero Xtreme 160REx-Showroom Price₹ 1.11 Lakh
- Hero Splendor iSmartEx-Showroom Price₹ 65,950 - 68,150
- Hero Maestro Edge 125Ex-Showroom Price₹ 73,450 - 82,320
- Hero Xoom 110Ex-Showroom Price₹ 68,599 - 84,968
- Hero Vida V1Ex-Showroom Price₹ 1.24 - 1.52 Lakh
- Hero Glamour 125 XTECEx-Showroom Price₹ 84,838 - 89,438
- Hero Mavrick 440Ex-Showroom Price₹ 1.99 - 2.24 Lakh
- Hero Passion PlusEx-Showroom Price₹ 76,301
- Hero Splendor Plus XtecEx-Showroom Price₹ 79,405 - 82,911
- Hero Karizma XMREx-Showroom Price₹ 1.8 Lakh
- Hero XPulse 200T 4VEx-Showroom Price₹ 1.36 Lakh
- Hero Xtreme 125REx-Showroom Price₹ 95,000 - 99,500
- Hero Xtreme 160R 4VEx-Showroom Price₹ 1.39 Lakh
- Hero Xtreme 200S 4VEx-Showroom Price₹ 1.41 Lakh