The device will be marketed as the Karizma XMR and will cost Rs. 1.73 lakh with its new-generation features.
SUMMARY
- With its new-generation features, Pawan Munjal-led Hero MotoCorp reintroduced the Karizma brand in the Indian market.
- The Karizma XMR is the third premium model released by the firm in the last three months, and it costs Rs 1.73 lakh.
- Hero has focused a lot of its attention to its premium services because its primary market, the rural market, has not yet recovered and seen a volume uptick.
Hero MotoCorp, the largest two-wheeler manufacturer in India, has staked all on the market for high-end models. The Karizma nameplate was once again brought to the Indian market on Monday by the Pawan Munjal-led firm under the name Karizma XMR, which would be sold for Rs 1.73 lakh. The most expensive Hero MotoCorp product currently available in India is the Karizma XMR. “To us, the voice of the client is the voice of God. In the past three months, the business has released three premium models. Since we want to dominate the premium market, more motorcycles will be produced over the next quarters, according to Niranjan Gupta, CEO of Hero MotoCorp.
The Karizma XMR is targeted towards the younger generation, according to Gupta. Hero Honda initially introduced the Karizma brand in 2003, but it was dropped in 2020. The legendary bike is about to make a comeback with the Karizma XMR, and Hero anticipates that it will do well against competitors like the Bajaj Pulsar RS200 and the Suzuki Gixxer SF 250. But the key query is: Will Hero MotoCorp’s legendary Karizma brand contribute to its positioning as a premium motorcycle manufacturer in the Indian market?
The motorcycle has a 6-speed transmission, a dual projector LED headlight, higher handlebars, a sport-tourer demeanor, and a liquid-cooled engine—a first for a Hero bike.
The business has partnered with Harley-Davidson as well, and it intends to introduce newer models in July after the Harley X440. Hero, although being the biggest, has had trouble regaining its pre-pandemic sales levels. The majority of two-wheeler sales in India often occur in rural areas, especially since the more affordable 100cc models, which include Hero’s best-selling Splendor motorbike, account for 70% of all sales. Hero’s main client base, the rural market, has seen considerable price increases for entry-level products, and there has not yet been a rebound or rise in volume. Well, it appears that the premium gamble is already paying off.
The company’s earnings for the three months that ended on June 30 increased by 32% to Rs 825 crore as a result of the price increase in April, which helped to overcome a 2.7% decline in sales volumes to 1.35 million units from the prior year. Hero is not the only company expanding its premium product, though. Rival Bajaj Auto has also increased the number of premium class launches with Triumph in the UK as both companies seek to challenge market leader Royal Enfield. It’s not a horrible time to be a cyclist, is it?
