News About Hero Honda Two Wheeler Insurance

• Hero MotorCorp Invests in Electric Scooter Start-up

  Hero MotoCorp has made an Rs.180 crore investment in electric scooter company Ather Energy. The investment gives Hero almost 30% stake in the start-up, according to sources.

  Ather has designed and built India’s first electric scooter, called the S340. The scooter can run at a top speed of 72 kmph and can run for around 60 km on one charge.

  The scooter comes with a rechargeable battery that can be charged in an hour.

  A Hero MotoCorp spokesman stated that the company is looking to invest in new technologies in the two wheeler market and hopes to maintain its position as one of the top companies in the segment.

  It remains to be seen how this move would impact the two wheeler and two wheeler insurance market.

  

  11th November 2016

• Hero MotoCorp hits record sales figures

  Hero MotoCorp, the largest two wheeler manufacturer in the country, has hit record sales figures for the month october.

  The company delivered over 6.63 lakh two wheelers in the month of October alone and clocked the best sales number for the third month in a row.

  According to sources, the firm dispatched 6,63,153 units in october as opposed to 6,74,961 in September and 6,16,424 in August this year.

  Hero credits to the surge in numbers to the festive season, particularly Dhanteras which inspired more people to buy motor vehicles. A good monsoon in various Indian villages too has contributed to the rise in sale numbers for the company.

  The firm also pointed out that as the festive season drew to a close, dealer inventories have hit normal levels as they were before the holidays. This surge in sales has enabled Hero to record a growth of 15.8% for the quarter ending in September.

  

  10th November 2016

• Hero MotoCorp Funds Ather Energy

  As per a recent development, Hero MotoCorp has decided to invest Rs.205 crore on a company named Ather Energy. It is a start-up specialized in electric vehicles. It is based in Bengaluru. Last February, they had already launched a model named Ather S340. According to Tarun Mehta (co-founder), the scooter will be available for the public from early next year onwards. It has a console which is equipped with lot of functional apps. On full charge, it can run up to 100 km. The company has even bought a space in Whitefield for its production. There is also a need of more charging stations all across the country.

  

  7th November 2016

• Hero Honda Posts Sales growth of 32% for September

  Hero Honda has posted over 32% growth for the month of September. The company released a statement confirming it had sold over 5,69,011 units in September 2016 compared to 4,30,724 units for the same period last year.

  The figures mark the best monthly sales the company has posted, with the scooter division posting an increase of over 35%.

  The motorcycle division showed sales growth of 25%, with 1,84,007 units were sold in September 2016, compared to 1,47,227 units in the previous year.

  The spurt in sales have been attributed to a number of factors such as good monsoon, the implementation of a unified pension scheme for armed forces veterans and the recent Central Pay Commission revision.

  The company also posted record export figures for September, with exports growing at 53.75% compared to the previous year.

  The rise in the number of two wheelers being sold also spells good news for two wheeler insurance providers, who are looking at a windfall this season.

  

  6th October 2016

• E-Bikes with Lithium-Ion Batteries to be Launched by Hero

  India’s biggest e-bike manufacturer, Hero Electric, joins the long list of companies to jump on the e-commerce bandwagon in an effort to grow quicker. So far, the company has been rather sluggish so far as their two-wheeler sales are concerned, and the company hopes to record better sales by ensuring that the logistics providers are convinced to substitute polluting petrol bikes with the new vehicles which come with the lithium-ion battery. The company is currently conducting talks with major e-commerce companies such as Amazon after signing a deal with a logistics player based out of Noida.

  

  23rd September 2016

• Hero MotoCorp Increasingly Optimistic about Two-Wheelers

  Consumption-driven industries such as auto have experienced better sentiment over recent months thanks to the Pay Commission implementation in addition to a decent monsoon. Hero MotoCorp, for instance, hit record highs in September 2016 so far as their shares are concerned, and the company’s managing director and chairman, Pawan Munjal, recently revealed that the company which was “cautiously optimistic” about proceedings is now “more optimistic” as sales are expected to increase in coming months. With two-wheeler sales on the rise, the sale of two-wheeler insurance is also expected to rise as we head into 2017.

  

  21st September 2016

• Profits of Hero MotoCorp increases by 18% in Q1

  The automobile industry in India has seen steady growth over the last few years, with companies registering strong performances. Hero MotoCorp, which is one of the biggest names in the two-wheeler industry of the country has been a dominating force, growing to become the largest manufacturer of two-wheelers in the world. Profits of this market leader grew by 18.13% in the quarter ending June, with this net profit equivalent to Rs. 883.10 crore. This is a 5.8% growth compared to the previous quarter.

  The overall revenue of the company stood at Rs. 8,010.66 crore, a jump of 7.73% over the previous year, but a drop of 1.23% over the last quarter. The EBIDTA or earnings before interest tax depreciation and amortisation stood at Rs. 1,230.08 crore, an increase of 18.04% over the previous year. An improved result was observed even in the operating profit margin, which stood at 15.35%, an increase of 1.34% over the previous year. A total of 17.45 lakh two-wheelers were sold in the quarter, an increase of close to 1 lakh units compared to the same time last year, making it the best quarter in terms of total sales volume.

  The 125cc market saw a major chunk of sales, with the Super Splendour and Glamour holding fort for the company. Good monsoons and the introduction of the 7th pay commission contributed to the growth in sales, with the company expecting its growth trajectory to grow into the next quarter.

  

  8th August 2016

• Activa sales beat out legendary Splendor after 17 years of dominance.

  The Hero Splendor has enjoyed being at the top spot of sales for 17 solid years, and has now been dethroned by Honda Activa.

  Since the early ‘90s, the demand for scooters has dropped, and the demand for geared bikes has risen – to the point that there were seven motorcycles being sold for every scooter being sold by FY 2006-07. Bajaj also entirely stopped making scooters in early 2010, choosing to focus on manufacturing quality motorcycles instead – to make the most of the demand in the market.

  The recent fiscal 2015-16 ended on a high note for scooters, as the Indian customer seems to have rediscovered its love for scooters, dropping the ratio of motorcycles to scooters sold – to two for every one sold.

  The Activa has outsold the reigning champion Splendor every month this year, and this is what helped it make the news, as the bike has managed to maintain its position of out-selling the motorcycle for 5 straight months. The Activa has beaten the sales of Speldor in the past, but not at such a consistent level for so long at a stretch.

  Two wheeler loan providers and two wheeler insurance companies also report a surge in the sales of their products to cover the purchase or insurance of scooters.

  

  13th June 2016

• Hero MotoCorp to Launch New Products within the Next 2 – 3 Years

  Hero MotoCorp, the leading two-wheeler manufacturer, has announced its decision to launch four new models in the next 2-3 years. These models will be in the premium category from the motorcycle and scooter segments. The company is expected to expand its product specifications in the form of 150cc and 125cc scooters. Hero will launch an updated version of the scooter – Pleasure and also the new Splendor iSmart motorcycle (110cc) by the end of this financial year. Two wheeler insurance for all these models will be readily available from leading insurers.

  

  6th June 2016