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28 Sep 2022
28 Sep 2022
The business model of Hero MotoCorp shows that it has the biggest motorcycle market in India. We find more motorcycles on the streets, and the market leader of this massive Indian market is Hero MoroCorp. It has its footprints in India as well as in the whole world. It has huge sales and operates a 40 Million Dollars bike manufacturing plant and Hero MotoCorp. It marks its importance in being one of the top 5 motorcycle brands in the country.
It has spread its steps in Myanmar, Sri Lanka, and Nepal as well. It owns a majority stake in Bicycle Manufacturing Company. In India, it operates with a center of innovation and technology at Jaipur and 5 huge manufacturing facilities across India, which includes the worlds largest two-wheeler manufacturing plant located at Haridwar. The company is the largest manufacturer of bicycles in India.
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Hero Motocorp is a famous company in the automobile sector in the world. Every year around 10 lakh people buy Hero Splendor. It has 40% market share in India and has a yearly revenue of Rs. 34000 Crore.
The company is the fruit of efforts brought by the founder Brijmohanlal Munjal. Mr. Munjal was born in Kamalia Punjab in 1923. He was born in a middle-class family. He went to Amritsar along with his three brothers Satyanand Munjal, Dayanand Munjal, and Omprakash Munjal, where he owned a dealership selling Cycle parts.
He and his brothers used to travel to different regions of India to sell the Cycle parts. After the division of India and Pakistan, Mr. Munjal has to shift to Ludhiana which was considered as a hub of Cycle manufacturing. He availed the opportunity and spread his business in India.
After getting success in this dealership business he started a factory making Cycle parts. Initially, it used to manufacture handlebars, wheel forks, and chains. Mr. Munjal used to visit different dealers in various regions of India to advertise and sell the Cycle parts. He built up trust in the hearts of every dealer and became successful gradually in this business.
In 1956, the Punjab government has issued 12 tenders of Cycle manufacturing licenses. Mr. Munjal filled those tenders and got the Cycle manufacturing license. He named the company Hero Cycle. This was the beginning of Hero Cycles. These cycles were affordable and durable as well, which was liked by most people. Hero gradually won the trust of the customers and build a good reputation in the market. He started Majestic Auto Company.
During that time, Honda, the motorcycle company of Japan was taking steps into India, and for that it needed a good distribution network, employees, and a perfect plan. Hero company had all these things. So they both thought to join hands by which Hero would get technology and Honda will get a distribution network. So in 1984, they started a joint venture. It launched its first motorcycle CD-100, which stole the hearts of many people in the market, as it was very stylish and strong. In 2011, they both decided to separate. In 1999, Hero started its subsidiary company - Honda Motorcycle and Scooter Limited.
Hero MotoCorp is associated with the Business-To-Consumer (B2C) model. The company marks its importance in mostly being involved in the design and development of technologically cutting-edge motorbikes and scooters nationally and internationally. It manufactures motorcycles and scooters along with their parts. The company has spread its hands in the manufacturing world and acquired name, fame, and prosperity a hundredfold. It has become a global brand by stealing the hearts of 100 Million customers worldwide.
Xtreme 200S, Xtreme 160R, Xpulse 200T, Xpulse 2004V (Latest Edition), Xpulse 200, Splendor+ Xtec, Splendor Ismart, Splendor+ Black and Accent, Splendor+Passion Xtec, Passion Pro, Super Splendor, Hf Deluxe, Hf 100, Glamour, New Glamour, and Glamour Xtec.
Pleasure+ Xtec, Maestro Edge 125, Maestro Edge 110, Destini 125 Xtec and Destini 125.
The running cost of an electric vehicle is much lower than an equivalent petrol or diesel vehicle and uses electricity to charge its batteries. These are more efficient and that is combined with the electricity cost. It reduces carbon footprints and reduces environmental impact. These are also associated with low registration fees and road tax while purchasing. These have gears and are very convenient to drive, and there are no complicated controls like acceleration, brake, or steer.
These require very low maintenance costs as these are not associated with as many moving parts as an internal combustion vehicle. Its servicing requirements are also lesser than the conventional petrol or diesel vehicles. To make the people avail all these benefits, the company took a step forward into the EV segment, and came up with electrical vehicles in March 2022 and focused on Green sustainability, and has also brought an official Hero merchandise business in the market. The company takes steps to satisfy the needs of its customers at its level best. It is associated with good servicing facilities which provide a fully functional infrastructure.
Revenue refers to the total of all money generated from the sales of goods or services. This is associated with the revenue from regular business operations. It includes income from the primary sector as well as business activities. All the companies mainly focus on good revenue generation by attracting the interest of more customers towards it. The company tries to satisfy the needs of its customers with quality and the best services. It always takes steps to keep its existing customers associated with its services and also attracts new customers towards it.
Hero MotoCorp shows that in 2015, 2016, and 2017 it sold 6.6 million vehicles, whereas it sold 7.6 million vehicles in 2018, and 7.8 million in 2019. It sold 6.4 million vehicles in 2020, 5.8 million in 2021, and 4.9 million in 2022.
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