Hero MotoCorp now holds the world record for selling the most number of motorcycles in one month, performing extraordinarily well by registering 7,69,138 units in September 2018. The first brand to cross the 7.5 lakh unit mark, Hero MotoCorp was expected to get the worst hit from the 5-year insurance rule due to their budget restricted market presence. In fact, the effect is totally different and they went on to register a growth rate higher than most other brands in the industry. The brand has breached the 7 lakh mark five times, out of which three times are registered under the current financial year.
Hero registered more than 4.2 million units in April-September 2018 period, claiming an average of more than 7 lakh units for each month. The speed predicts even bigger sales number in the festive period, leaving other manufacturers in a need for an effective way of selling their own commuter specific products. Hero rivals Honda, TVS and Bajaj Auto bikes in India, all of them offering practical products with even better pricing than that seen on Hero bikes. The number game is more within these four brands as once you pass them, all others are selling specific products with variable dependence on the scooter as well as motorcycle segment.
The sudden increase in on-road pricing for various products through the mandatory five-year insurance had no effect on most brands as they absorbed the hike marginally by offering certain offers with their products. Society of Indian Automobile Manufacturers is in talks with IRDA regarding the new rule. They hope for some amendment before the festive season, leaving little or no stress on automobile brands regarding the fixed insurance period hassle. The brand is also preparing to launch two 125cc scooters named Destini 125 and Maestro Edge 125 in the country for the festive season.