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Hero MotoCorp to Launch New Commuter Bike This Year

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Article by Hamza Ansari
No doubt that Hero MotoCorp is the nation’s largest two wheeler maker, and also the world’s largest, which had inspired many bike makers around the globe to set their foot on our local shores, in terms of volumes and such. But meanwhile, some of the international players had given this Indian organization a nightmare for the sales, as it is experiencing a brief decline in numbers for last some months. But no to setbacks, it had set the target of three more launches in this year for India. Though not much of the details had been revealed, yet hopefully we just got our hands on the piece of news that Hero MotoCorp is soon going to launch a 100-125 cc commuter bike in our local market, for competing [...]

Hero MotoCorp opens its production plant in Rajasthan

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Article by Ayan Sengupta
India’s largest two-wheeler manufacturer Hero has opened up its fourth motorcycle manufacturing plant in Rajasthan. The plant has been stationed at Neemrana and spreads over a total area of about 47 acres. Hero said that it will be employing another 1,000 workers and the new plant will increase its production capacity to 7,50,000 units annually. Hero has also decided to keep Rs. 550 crores aside for the investment. The Hero MotoCorp Rajasthan plant will also feature its global parts center. The production is expected to start from end of 2013-2014. Pawan Munjal laid the stone of the facility in the presence of senior company executive and government officials. Speaking on the occasion Mr. [...]

Hero Honda Records 13.5% Growth in Net Profits and 32% Growth in Net Sales for Q1

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Article by Andrea Rodrigues
As the two wheeler market in India recorded a growth of 24%, Hero Honda Motors recently posted their sales figures that saw a record jump of 32%, while their net profits increased by 13.5% for the quarter ended on June 30, in comparison the corresponding quarter last year. While the company’s net profit including tax rose to INR 557.89 crores in the quarter, in comparison to the INR 491.69 crores that it recorded in April to June 2010, they net sales saw an even bigger growth, recording INR 5,637.64 crores in net sales, in comparison to the INR 4,264.61 crores from net sales in the corresponding period last year. Hero Honda managed to sell a record breaking total of 15.30 lakh models in [...]

INR 811 Crore Tax Paid by Hero Group on Buyout of Honda Stake in Hero Honda

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Article by Andrea Rodrigues
Hero Group has paid INR 811 crores as tax on capital gains on their buyout of former JV partner Honda’s stake from Hero Honda, according to the Central Board of Direct Taxes. A spokesperson for CBDT said that Hero Group has paid the entire INR 811 crore tax amount in two separate tranches. In March, they paid INR 100 crores, while in April they paid INR 711 crores at a 22% high rate. They haven’t sought a concession. Last year, in December, BM Munjal, the parent company of Hero Group, agreed to buy Honda’s entire stake in Hero Honda, about 26%, for INR 3,841.83 crores. Following the exit of Honda from the JV, the investment of Hero Group’s Hero Investments Pvt. Ltd. was [...]

Fourth plant for Hero Honda could be either in Karnataka or Gujarat

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Article by admin
Hero Honda who are on a revamp, are currently scouting for a location for their 4th plant in India and it would most likely be in the states of Gujarat or Karnataka. Within a few weeks, the company would be sending out mailers regarding the investment details that would go into this plant plus the location details. Anil Dua, the Marketing and Sales division Senior Vice President for Hero Honda, said that for the coming years, the company would definitely need a new facility. He however declined to comment on any further things such as the level of investment which would go into this 4th plant or even the production capacity of this unit. Estimates say that about Rs 800 crores may be put into [...]
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