Hero MotoCorp is poised to make its foray into the 400cc plus segment with the Mavrick motorcycle, set to be launched on 23rd January. The Mavrick will be based on the Harley Davidson X440 platform.
While the X440 is a motorcycle manufactured by Hero MotoCorp for Harley Davidson, the Mavrick will be a Hero-badged motorcycle that the company can sell across India and even export to key markets. Hero MotoCorp aims to commence dispatches by the end of February.
The Mavrick 440cc will be launched at Hero MotoCorp's Centre for Innovation Technology in Jaipur. However, that's not all. The company is set to unveil a medium to long-term roadmap at the event, according to a source.
While Mavrick will be the major launch, the company will also showcase a range of two-wheelers across ICE, flex fuel, and electric technologies. The company will present production-ready vehicles across segments, including a 125cc motorcycle. Some of these vehicles will be launched later in FY25.
The 400cc segment is considered a sweet spot in the two-wheeler segment, with Royal Enfield holding almost 90% market share. Bajaj Auto has the KTM 390, Bajaj Dominar 400cc, and two Triumph motorcycles in the 400cc plus segment. Bajaj Auto sold 18,000 Triumph motorcycles in Q3 FY24 and can ramp up production to 10,000 per month.
In December 2023, Hero MotoCorp, a leading player in the entry-level segment, sold 460,000 two-wheelers.
Despite being the market leader with a 32% share, Hero continues to face stiff competition from Honda Motorcycle & Scooter India (HMSI), which holds a 24% market share. Growing the footprint in premium motorcycles and exports is critical for Hero MotoCorp to continue maintaining its market share.
(Edited by : Vivek Dubey)
