India’s biggest two-wheeler manufacturing company Hero MotoCorp intends to introduce 15 new products in domestic as well as international markets this year.
Pawan Munjal, Hero MotoCorp Chairman, MD & CEO stated, “We will have 15 new launches across in our domestic and global markets this fiscal, out of which three motorcycles will be introduced in the domestic market before the festive season.”
Amongst the new launches the three new motorcycles, Achiever 150, Super Splendor and Passion PRO with the Hero patented i3S technology will be introduced in the market.
As far as the new manufacturing units are concerned, Munjal said that Hero’s upcoming plant in Gujarat will be fully operational in the third quarter of this fiscal.
“While the Bangladesh plant, our second manufacturing facility at a global location after Colombia, will start off its operations in the fourth quarter of this fiscal,” he further added.
Speaking on the international operations, the company has appointed a distributor in Argentina with the idea of launching the Brand in the market in January, 2017. “In Nigeria, we are going to start sales very soon.”
Munjal also expressed his views on the GST (Goods & Services Tax), “It is too early to do calculations until (GST) Council fixes the rate, I have my doubts on the April 1, 2017 deadline for GST, though we have done our homework. Implementation on GST requires huge amount of digitization, for which I have my doubts, can be completed in such a short span of time.” “GST is going to happen and it’s a good thing. Companies, traders, economy all will benefit from it.” he said.
With the festive season approaching, the company aims at attaining double digit growth in the current fiscal banking upon increased sales.
Munjal stated that the (Bharat Stage) BS-IV norms are round the corner but the real challenge will be the adoption of the BS-VI by April 1, 2020. “We have accepted the challenge of the BS-VI. The task is enormous.” He said.
According to Munjal, there is a cost to technology as an effect of BS-VI on pricing. “We do not know how much investment will go into the technology and how much can be passed on to the customer. It is too early to comment on the effect on the prices.”
