Hero re-enters used two-wheeler business

Hero MotoCorp has made a comeback in the used two-wheeler business. Dubbed Hero Sure, it allows buyers to exchange their old motorcycle or scooters while purchasing a new Hero two-wheeler. Hero Sure has been promoted by Pawan Munjal, Chairman, Managing Director and CEO of Hero MotoCorp. The country’s largest two-wheeler brand had entered the used two-wheeler market many years ago but had to shut its operations owing to tax issues. However, with the introduction of Goods and Services Tax (GST), Hero has re-entered the used two-wheeler business.

The brand has commenced the new business with a pilot batch of around 100 dealerships in Gujarat and Tamil Nadu. Initial response has been positive and the company has plans to expand Hero Sure to other states as well. Hero currently has around 6,500 dealerships in our country so the expansion of Hero Sure outlets is expected to proceed at a brisk pace.

Speaking about the new initiative, a Hero MotoCorp spokesperson commented, “Hero Sure helps the customer get the best price for his vehicle on the basis of a transparent evaluation process. About 5,000 vehicles are currently exchanged on an average every month at the Hero Sure facilities.”

The Hero Sure business also helps the brand in retaining its customers. It currently has more than 10 million active customers and if a fraction of these customers upgrade to a Hero offering, sales will receive a massive boost.