Davos 2024: Hero MotoCorp's Focus On Urban Premium, R&D Paying Off, Says CEO
Speed, scale, synergy and simplification is the '4-S mantra' at the company's core right now, CEO Niranjan Gupta says.
Hero MotoCorp Ltd. is focusing on improving the urban and urban premium category where rangebound demand growth is taking shape, according to Chief Executive Officer Niranjan Gupta.
"Drivers of growth were earlier hinged upon rural demand. But the focus is now on improving our urban and urban premium category. Expand category at bottom-end, expand portfolio at the top-end—this is our aim right now," Gupta told NDTV Profit's Niraj Shah on the sidelines of the World Economic Forum 2024 in Davos.
Rangebound demand growth is bound to happen, which "we are seeing even now", he said.
"Our R&D has come of age," Gupta said. The country's largest two-wheeler maker is looking beyond its traditional 100 cc and 125 cc offerings and launching the 400 cc Harley Davidson, Karizma in the 200 cc plus bracket and another 440 cc model is coming up this quarter, he said.
"We are on the premium two-wheelers phase in a very serious manner. Revamping not just our product portfolio, but also our stores," he said.
Speed, scale, synergy and simplification is the "4-S mantra" at the company's core right now, he said. "We are putting in place a fully digital journey for our customers in the premium segment. As the portfolio builds up, we aim to win a meaningful market share in premium."
The Hero MotoCorp chief is happy with the way industry growth has bounced back from the pandemic and the surge in innovation as well as growth in the electric vehicle space, he said.
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Watch the full conversation here:
