Hero MotoCorp clocks 36 pc rise in Q1, net profit at Rs 1,123 crore
The company said that the higher profit was driven by strong sales, recovery in the rural market and new launches.
US-based iconic motorbike maker Harley-Davidson has announced a return to India with a new arrangement with Hero MotoCorp, after riding out of India earlier in September.
Hero MotoCorp, the world’s largest maker of motorcycles and scooters in terms of volume, has worked out a distribution agreement through which it will sell and service Harley Davidson motorcycles and sell parts, accessories, general merchandise such as riding gear and apparel.
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The arrangement gives the 117-year old Harley-Davidson wider nationwide access through a network of brand exclusive Harley-Davidson dealers and Hero MotoCorp’s existing dealership network.
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As a market leader for nearly two decades, Hero MotoCorp has sold over 95 million motorcycles and scooters in cumulative sales since its inception.
The licensing agreement includes Hero MotoCorp developing and selling a range of premium motorcycles under the HarleyDavidson brand. The tie-up is part of “Rewire”, the business overhaul Harley-Davidson promised in September to change its business model in India.
The Wisconsin-based motorbike manufacturer that has a cult following worldwide had been complaining of high taxes since coming to India in 2009, before finally closing down its factory in Haryana in September.
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