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HDFC Securities Retail Research
Hero MotoCorp Ltd. is the leader in the Indian two-wheelers market with a dominating presence in the entry level segment. It has been gaining back its lost market share in this segment with March 2022 and FY22 share at 74% and 62% respectively.
The Splendor model has 82% market share in March-22 and had impressive performance. Management expects the two-wheeler industry to post double-digit growth in FY23 on the back of favourable indicators that include marriage season demand, good festive demand in key regions in April, and positive rural sentiment on the back of expected healthy crop output.
Hero MotoCorp took price hike of Rs 1,000 (excluding showroom) in first week of April. The current inventory levels have come down to six-seven weeks compared to seven-eight weeks at end of March-22.
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