Hero MotoCorp’s plans and targets for the ongoing financial year (2023-2024) and beyond.
Here’s a summary of the key points:
- Production Target: Hero MotoCorp aims to produce over 6.5 million units of two-wheelers in FY 2023-24. This is the highest manufacturing target set by the company in the last four years and surpasses the pre-COVID production level of 6.4 million units from FY20.
- Focus on New Markets and Growth: As the world’s largest two-wheeler manufacturer, Hero MotoCorp has long-term plans for establishing its presence in new markets and increasing its market share in existing ones.
- ICE and EV Products: The company intends to make its internal combustion engine (ICE) and electric vehicle (EV) products more value-focused to drive healthy growth in both domestic and export markets.
Key points continue
- Digital Sales Target: Hero MotoCorp has set an ambitious goal of achieving 30 percent of its sales through digital channels by the year 2030. This indicates the company’s emphasis on leveraging advanced analytics, artificial intelligence (AI) tools, and cutting-edge automation technologies.
- Female Workforce Goal: The company aims to achieve a 30 percent female workforce by 2030, demonstrating its commitment to gender diversity and inclusivity.
- Green Dealerships: Hero MotoCorp is working towards transitioning its authorized dealer networks to 100 percent green dealerships by the end of the decade. This aligns with the company’s sustainability efforts.
- ‘Project Gold’ Initiative: To expand its global reach, the company has launched ‘Project Gold’, which involves developing two-wheelers tailored to the specific usage conditions in different countries. Under this project, Hero MotoCorp plans to launch a total of 16 models, including new products and refreshes.
With these ambitious plans and initiatives, Hero MotoCorp aims to strengthen its position in the two-wheeler industry and continue its growth trajectory.
Conclusion
Hero MotoCorp is a global leader in the two-wheeler industry. The company has set ambitious goals for growth and innovation in the coming years. These initiatives demonstrate the company’s commitment to staying ahead of the curve and continuing to be a leader in the global two-wheeler market.
Target
The company’s production target of 6.5 million units in FY2023-2024 is the highest in the last four years. This is a clear sign that the company is confident in its ability to grow in the coming years. The company’s target of 30% of its sales through digital channels and a 30% female workforce by 2030 are also ambitious goals. However, the company’s track record of achievement suggests that it is well-positioned to achieve these goals.
Project Gold
The launch of ‘Project Gold’ is another sign of the company’s commitment to innovation. This project is aimed at developing two-wheelers tailored to usage conditions in specific countries. This will allow the company to expand its global reach and meet the needs of customers in different markets.
Overall, Hero MotoCorp is well-positioned to achieve its ambitious goals and continue to be a leader in the global two-wheeler market. The company’s focus on growth, innovation, and customer satisfaction will help it to stay ahead of the competition.
