Upcoming Two-Wheeler Launches In March 2024
- Mar 1, 2024
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Hero MotoCorp has beaten its former partner Honda Motorcycle and Scooter India (HMSI) in terms of exports. The former exported 79,956 scooters in FY 2014-15 as opposed to the 17,525 units in FY 2013-14 registering a 356.24 per cent growth in its exports. HMSI, on the other hand, exported 77,814 units in the FY 2014-15 as against 51,932 units in the FY 2013-14, recording a growth of 49.84 per cent. This made it the second largest scooter exporter in the country.
Hero Honda started as a joint venture between Hero Cycles of India and Honda of Japan back in 1984. Under this joint venture Hero Group could not export to international markets (except Sri Lanka and Nepal).
Differences then started brewing between the two partners over reasons ranging from Honda's reluctance to fully and freely share technology with Hero (despite a 10-year technology tie-up that ended in 2014) as well as Hero MotoCorp’s uneasiness over high royalty payouts to the Japanese company. These differences led both the companies to end the joint venture in 2010, and the subsequent establishment of Hero MotoCorp with a new corporate identity in August 2011.
Hero MotoCorp and HMSI are not the only companies which have tasted success in its exports. On a holistic picture, overall exports of two wheelers has been on the rise with other players such as TVS Motor Company exporting 15,570 units in the FY 2014-15, as opposed to 11,923 units in the FY 2013-14. Suzuki Motorcycles India, too, registered a massive hike in the export sales with 5,712 units in the FY 2014-15 as opposed to 699 units the FY 2013-14. Yamaha Motors, on the other hand, saw scooter exports rise from 1,635 units in the FY 2013-14 to 6,271 units in the FY 2014-15.
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