Eicher Motors shares plunge over 4%; here's why
₹3,570 apiece on BSE today. The X440 is the smallest and most cost-effective Harley-Davidson motorcycle to be introduced in India since the Street 750, thanks to a partnership between Harley-Davidson and Hero MotoCorp. The Royal Enfield Hunter 450, which Eicher Motors will soon launch, is in direct competition with the X440, which is priced at ₹2.29 lakh (ex-showroom).
“In the race of high end two-wheelers, Harley-Davidson and Hero MotoCorp launched the X440 in India, which is said to be the smallest and most affordable HD bike to ever come into India. This launch is acting as a growth hurdle to its rivalry Eicher Motors, which is down today. Royal Enfield's has maintained a dominant player in the segment. Technically, Eicher looks weak and can settle around ₹3400 and watch for 200 DMA which is near ₹3304.
We remain neutral on this development," said Prashanth Tapse, Senior Vice President of Research at Mehta Equities. In order to expand its presence in the premium segment, Hero MotoCorp said on Monday that it is placing a significant bet on a relationship with legendary American brand Harley-Davidson and record-breaking product launches on its own, according to reports. The partners highlighted that the partnership would also allow Harley to access affordable areas, allowing more people to purchase the renowned brand.
The Harley-Davidson X 440 costs between ₹2.29 lakh and ₹2.69 lakh (ex-showroom), it is manufactured by Hero MotoCorp's Neemrana plant. In the fourth quarter of the current fiscal year, it would also introduce a bike on the same platform with the Hero MotoCorp brand, marking its entry into the 350cc-500cc motorbike sector in the ₹3 lakh and above price range. Pawan Munjal, chairman of Hero MotoCorp,
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