INSUBCONTINENT EXCLUSIVE:
is set to debut in developed markets by launching e-scooters under its Vida electric brand in the UK, France, and Spain from mid-2025,
according to a report by the Financial Times
vehicles.
The move coincides with ongoing India-UK free trade agreement discussions that could lower tariffs in the automotive industry,
positive customer sentiment in these regions towards their e-scooters
The company, already a major player in Asia, Africa, and Latin America, plans to leverage this enthusiasm as it navigates the shift towards
petrol engines, including its premium Mavrick model, to the UK and other European countries
However, analysts believe that success in these developed markets will require offering more expensive and premium motorcycles, a segment
Gupta noted that expanding Harley-Davidson exports to the UK would depend on future agreements with the Milwaukee-based company, as their
meet global regulations, opening new doors for Indian producers
With Chinese imports facing higher levies, Indian manufacturers like Hero see new opportunities in developed markets
However, the challenge for Hero will be navigating the competitive landscape and successfully positioning its premium motorcycles alongside
its e-scooters in markets accustomed to higher-end models.
Hero MotoCorp sells 512,360 units in August 2024
Hero MotoCorp reported sales
of 512,360 units in August 2024, a 38 per cent month-on-month rise
Compared to the same period last year, the automaker saw an 8 per cent growth in year-to-date sales.
In contrast, other automobile
manufacturers faced a downward trend in August 2024
Tata Motors reported an 8.1 per cent decline in total sales, with 71,693 vehicles sold compared to 78,010 units in August 2023
Similarly, Maruti Suzuki, another major player in the Indian automotive sector, experienced a 4 per cent year-on-year decline in total
sales.
As reported earlier by Business Standard, this rise in sales by Hero comes despite the company facing supply shortages that
marginally affected its sales for the month
However, Hero MotoCorp remains optimistic about a recovery in September as it anticipates overcoming these supply constraints.First
Published: Sep 19 2024 | 11:22 AMIST
