Hero MotoCorp’s CEO, Niranjan Gupta, envisions a double-digit revenue surge within the domestic two-wheeler industry for the forthcoming fiscal year. He suggests that there is a likelihood of further escalation in demand for premium models.
As the country’s largest two-wheeler manufacturer, having reported a total income of ₹10,031 crore in the October-December quarter of the current fiscal year, Hero MotoCorp anticipates an enhanced performance in the entry-level segment in the future.
Gupta remarked during an analyst call, “Regarding demand, as we have consistently stated, we anticipate the industry to achieve double-digit revenue growth in the upcoming year at minimum.”
He noted a trend within the domestic two-wheeler industry wherein consumers are increasingly drawn towards premium options, desiring motorcycles with enhanced features. Gupta emphasized this shift towards premiumization, signaling a rising demand for feature-rich variants. Additionally, he highlighted a positive trajectory for the entry-level bike segment, which had witnessed sluggish sales in recent years but is now exhibiting signs of recovery.
“So, it’s not just about the top end of India which is growing; you can see aspirations of people growing,” Gupta remarked.
He observed a significant improvement in demand in rural areas. “At the bottom of the pyramid, there has been notable heavy capital expenditure, digital inclusion, and evident upliftment in the hospitality industry, which has positively influenced the sentiment of consumers at the lower end,” Gupta remarked. He further added, “We clearly perceive the positive signals emerging from the rural sector as well, and we anticipate growth picking up from that segment in the upcoming quarters.”
