Hero forecasts double-digit growth in two-wheeler industry in FY25

    Other two wheeler brands too anticipate 7-10 percent industry volume rise in FY25.

    Published On Feb 12, 2024 01:02:00 PM

    10,918 Views

    Hero Mavrick 440 price, features, industry growth, sales.
    Listen to this Article

    Hero MotoCorp’s CEO Niranjan Gupta projects the two-wheeler industry to grow by double digits in the next fiscal year. This growth will be driven by the premiumisation trend, particularly seen in the 125cc+ segments. Our sister publication Autocar Professional learns that major two-wheeler manufacturers anticipate the product volume to rise by 7-10 percent during FY25, with the 125cc+ segment expected to perform higher.

    Bajaj Auto executive director Rakesh Sharma predicts 8-10 percent growth in the current fiscal year and expects the market share of 125cc and higher displacement motorcycles to surpass entry-level bikes over next three years. Meanwhile, the growth of the 125cc+ segment outpaces overall sales in the recent years due to the increased demand for higher displacement motorcycles among the youth.

    Also See: 

    2023 two-wheeler sales: Premium bikes lead the way

    However, sales of entry-level and commuter motorcycles, popular choices for new riders and daily commuters, have seen a slow recovery after the pandemic. This is due to the weak demand in rural areas, and higher prices and borrowing costs. What’s to note is that Hero Motocorp projects more interest from rural customers and expects growth in that market in the coming months. 

    Hero MotoCorp chief executive officer Niranjan Gupta told the analysts: “We expect the industry to grow in double digits on revenue in the coming year. The premium segment has been outstripping the growth. There is premiumisation in every segment”. He also added that, “At the bottom of the pyramid, heavy capex trends, digital inclusion and the hospitality industry are lifting sentiments. We see positive signals from the rural sector as well, and we see the growth picking up in that segment in the coming quarters.”

    Also See: 

    Ground Hero: Attending Hero World 2024

    New Hero premium electric bikes, Vida e-scooters incoming

    Copyright (c) Autocar Professional. All rights reserved.

    Comments

    ×
    img

    No comments yet. Be the first to comment.

    Ask Autocar Anything about Car and Bike Buying and Maintenance Advices
    Need an expert opinion on your car and bike related queries?
    Ask Now

    Search By Bike Price

    Poll of the month

    Which brand showed the best India-bound two-wheelers at EICMA 2024?

    Hero (Xpulse 210, Xtreme 250, Karizma XMR 250, Vida Z)

     

    39.31%

    Royal Enfield (Classic 650 Twin, Bear 650, Flying Flea C6)

     

    28.82%

    KTM (390 Adventure R, 390 SMC R, 390 Enduro R)

     

    18.53%

    Aprilia (Tuono 457, Tuareg Rally)

     

    13.34%

    Total Votes : 982
    Sign up for our newsletter

    Get all the latest updates from the automobile universe