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Hero MotoCorp to Focus on Scooters

By Finserv MARKETS - Dec 27,2019
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Hero MotoCorp Scooters

Two-wheelers sales in India has witnessed significant growth in recent years. The increasing traffic in metro cities and lack of parking space are some of the major factors that have contributed to the growth of the two-wheeler market in India. As per the data released by the Society of Indian Automobile Manufacturers (SIAM), the two-wheeler domestic market witnessed a growth of 4.86 percent as 21,181,390 units were dispatched in the previous financial year. The leading two-wheeler manufacturer in India, Hero MotorCorp retained its pole position by selling 7,382,718 units in the preceding year and held the largest market share in India’s two-wheeler segment at 35.9%. However, talking specifically about the scooters segment, Hero MotorCorp lags behind its former partner Honda Honda Motorcycle & Scooter India (HMSI).

Scooter market in India

According to a recent report by The Economic Times, Honda Motorcycle & Scooter India (HMSI) has 55% of the market share in the country’s scooters segment, which is led by Honda’s best-selling scooter Activa. On the other hand, Hero MotoCorp’s presence in the category is limited at about 11%, having sold 719,087 units in the preceding financial year. In the two-wheeler market, scooters play a crucial role as they account for one-third of the total two-wheeler sales in India.

Hero MotorCorp’s focus on scooters

Hero MotorCorp is believed to set its focus on the scooter segment and increase its market share in the scooter category. Moreover, with the launch of Maestro Edge 125 cc and Pleasure 110 cc scooters, the scooter segment for Hero MotorCorp is expected to grow in the near future. Additionally, with electric vehicles gaining more and more popularity with time, Hero MotorCorp has tremendous opportunity to expand its presence in the scooter segment. Apart from focusing on scooters, Hero MotorCorp is also believed to increase its share in the premium bike share.

Scooty Insurance

If you are planning to purchase a scooty for yourself, you will have a wide range of options to choose from. Right from Honda Activa, Hero Maestro Edge, Hero Pleasure to TVS Jupiter and Suzuki Access, you can compare features of various scooters and choose the one that best suits your needs. After purchasing a scooty, make sure you purchase an insurance for it. A hero insurance policy will safeguard you against all the financial liabilities that may arise in case of theft, loss or accidental damage to your hero bike. With leading bike insurance providers, you can purchase a comprehensive insurance policy online in a hassle-free way. It is essential that you make a note of all the inclusions and exclusions of your bike insurance policy before making the final purchase.

Bajaj Allianz bike insurance policy available on Finserv MARKETS comes with extensive coverage and affordable premium rate. Moreover, you can also opt for add-ons such as zero depreciation bike insurance cover. A zero depreciation bike insurance cover add-on will help you get peace of mind while you ride your bike with pride.

Easy online application, hassle-free claim settlement process and reliable customer service are some of the added advantages of availing Bajaj Allianz Bike Insurance.

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Bajaj Finserv Direct Limited ("BFDL"), erstwhile Bajaj Financial Holdings Limited is a registered corporate agent of Bajaj Allianz Life Insurance Company Limited and Bajaj Allianz General Insurance Company Limited under the IRDAI composite registration number CA0551 valid till 10-Apr-2021. BFDL also renders services to Bajaj Finance Limited (‘BFL’) and Bajaj Housing Finance Limited (‘BHFL’) (referred hereinafter as ‘Lending Partner’) in sourcing of customers, providing preliminary credit support activities, fulfilment services and post-acquisition customer services related to lending business. Registered Office: Bajaj Auto Limited Complex, Mumbai – Pune Road, Akurdi, Pune – 411 035 CIN: U65923PN2014PLC150522