Hero MotoCorp With margins reaching pre-Covid-19 pandemic levels, the company now plans to drive sustainable growth, increase market share across segments by launching several new models over the next few quarters. A senior company official gave this information
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The company is on track to introduce its EV range in 100 cities by the end of this year.
The company is on track to introduce its electric vehicle (EV) range in 100 cities by the end of this year. The company is clearly focused on achieving a leadership position in this sector. Hero MotoCorp Chief Executive Officer (CEO) Niranjan Gupta said, “The margin of the ICE (Internal Combustion Engine) business is now 14.5 per cent. This means that we have reached the level before the Kovid epidemic, which was about 14 percent.
Target to increase market share by selling vehicles
He added that once the margins reach pre-Covid levels, the company’s only target is to achieve growth and increase market share with the help of some vehicles that have been introduced and will be introduced in the coming few quarters.
Hero MotoCorp’s overall retail share in the domestic market currently stands at 35 percent.
Gupta said that due to increase in inflation during the Kovid period, the margin had come down to about 11.5 percent. Hero MotoCorp’s total retail share in the domestic market currently stands at 35 percent.