Hero MotoCorp has gained significant market share in the last few months to expand its lead over Honda. According to Team BHP, Hero has, contrary to the popular perception, increased its lead over its former Japanese partner to more than 2.15 lakh units in the first two months of the current financial year. In the same period last year, Hero had a lead of only 1.36 lakh units.
At the end of last month, Hero MotoCorp had a 37.4% share in the domestic two-wheeler market, which is slightly higher than the 36.2% market share it had in May 2017. In the month of May, Hero MotoCorp sold as many as 706,365 two-wheelers. This a growth of 11% over the corresponding month last year. Also, this was the third month of seven lakh-plus sales by the homegrown manufacturer. In comparison, HMSI could sell only 519,072 units in May 2018. In May 2017, it sold 510,381 units. Hence, it’s a clear indication of Hero’s fast-increasing lead over its immediate rival. Also, Hero is hopeful of healthy sales numbers during the months of monsoon.
“With the forecast of a good monsoon this year, there is an expectation of an uptick in market demand in the later part of the year, leading to a sustained momentum in the positive turnaround in sentiments across the country. We are well placed to leverage that with the upcoming introduction of our new motorcycles and scooters during the year,” said a spokesperson for Hero MotoCorp.
A good monsoon is beneficial to Hero as more than half of its sales come from the rural market. Hero is also planning to launch motorcycles in the higher segments, which should help it perform better in the urban market. Also, the launch of 125cc Duet and Maestro Edge automatic scooters should further help it consolidate its numero uno status as the two new scooters will become direct rivals to the Honda Active 125 and the Honda Grazia.