Two-wheeler industry to see double-digit revenue growth next fiscal: Hero MotoCorp CEO

livemint.com:

Hero MotoCorp CEO Niranjan Gupta anticipates a double-digit revenue surge in the domestic two-wheeler industry in the upcoming fiscal year. He suggests that the demand for premium models is likely to escalate further. 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, foresees improved performance in the entry-level segment in the future.

"As far as the demand is concerned, as we have been saying, we do expect the industry to grow double digit on revenue in the coming year at the least," Gupta said in an analyst call. He observed a trend within the domestic two-wheeler industry where consumers are increasingly gravitating towards premium options, seeking motorcycles with enhanced features. Gupta highlighted this shift towards premiumization, indicating a growing demand for feature-rich variants.

Furthermore, he pointed out a positive trajectory for the entry-level bike segment, which had experienced sluggish sales in recent years but is now showing 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 stated. He noted that demand in the rural areas has improved considerably.