Glue in and cash in as India’s top two two-wheeler makers Hero and Honda battle it out this festive season
festive season will be crucial for India's top two two-wheeler makers as the duo, accounting for more than half of the market, plan to intensify their slugfest and go all out to chase volumes and market share with aggressive promotional schemes in the world's largest market.
Hero MotoCorp aims to retail 1.5 million two-wheelers, up 10% year-on-year (YoY) during the 32-day period which begins with Navratri on 3 October. This is equivalent to nearly three months of sales. Honda Motorcycle and Scooter India (HMSI) plans to sell 15-20% more than in 2023 — a year that was marked by supply shortages.
To be sure, the priorities for each are different but the goalposts remain the same. For Honda, which overtook Hero in wholesale volumes in the first five months of this fiscal, it would be about covering more ground and cementing its leadership position; for Hero, it would be about clawing back market share it ceded reclaiming the numero uno position.
Spokespersons at Hero and Honda declined to respond to ET's queries.
«By the end of this year (fiscal), we will regain the share and be the market leader again,» Hero, the maker of Splendor and Passion models, said at a dealer conference in Barcelona, Spain earlier this week. The company is pinning hopes for a comeback on the better-than-expected response to the Xtreme 125 cc motorcycle model, and an underlying recovery in the rural markets, it said.
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