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Hero to Unveil 15 New Products Before the End of Fiscal Year

India: Hero MotoCorp has planned to launch 15 new products with the first product being the Achiever 150, which will be on sale by September end. Moreover, the new bike will be enabled with i3S technology, mainly focusing on auto start-stop system. Also, the Super Splendor bike will be deployed with the similar technology. In addition to that, this recent technology would assist the bikes to achieve a higher fuel efficiency figure as well.

The company also plans to launch new scooter variants by the end of the year. Besides that, Hero MotoCorp is also planning to upgrade the two wheeler line-up to BS4 (Bharat Stage IV norms).

The company is constantly taking steps to expand all across the country as well as in the overseas market. As a part of its expansion strategy, the company has invested to open a new plant in Gujarat during third quarter and another one in Bangladesh during the fourth quarter of the current fiscal year.

Under the similar strategy, the company has recently appointed distributors in Mexico and Argentina as well.

According to a recent report published by TechSci Research , “India Tire Market Forecast & Opportunities, 2021”, with over 60 tire manufacturing facilities spread across the country in 2015, India ranks among one of the largest tire markets around the globe. Growing automobile sales coupled with expanding automobile fleet are the major factors boosting demand for tires in the country. Moreover, with favourable inflationary scenario, expanding middle class population and increasing national disposable income, tire sales across all the automobile segments are expected to grow in the coming years.

TechSci Research believes that, launch of 15 new products including motorcycles and scooters by Hero MotoCorp would result in increase in the demand across both OEM and replacement two-wheeler tire markets of India. Expected increase in the OEM and replacement demand for two-wheeler tires would support the dominance of two-wheeler tire segment in India tire market over the next five years.

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