Hero MotoCorp’s diversification into the premium middleweight motorcycle segment is beginning to pay off. The company, which manufactures the Harley-Davidson X440 and the X440-based Hero Mavrick 440, has sold 12,188 units of these two models in the April-December 2024 period. This constitutes a year-on-year increase of 77 percent and gives Hero MotoCorp a 13 percent share of this segment.
- Harley X440 sales surged 31 percent YoY
- 92,881 units of 350-500cc bikes were sold
- Bajaj leads the segment with a 51 percent share
The year-ago sales of 6,862 units comprised only the Harley-Davidson X440, launched in July 2023. The X440 is the first premium motorcycle introduced under the licensing agreement between Hero MotoCorp and Harley-Davidson, marking their foray into the 400cc+ segment in India.
The co-developed, made-in-India Harley rolls out of Hero’s Garden Factory at Neemrana in Rajasthan. at Neemrana in Rajasthan. It has three variants – Denim (Rs 2.40 lakh), Vivid (Rs 2.60 lakh) and S (Rs 2.80 lakh) – and 8,974 units were sold in April-December 2024, up 31 percent.
The Mavrick 440, Hero’s first motorcycle spawned off this platform, was launched in February 2024. It is available in three variants – Base (Rs 1.99 lakh), Mid (Rs 2.14 lakh) and Top (Rs 2.24 lakh) – and 3,214 units were sold in the nine months to December 2024.
As per SIAM data for the said nine-month period, two-wheeler makers dispatched 92,881 units of 350cc to 500cc motorcycles, up 36 percent.
Bajaj Auto, with its own models and a clutch of bikes under the Husqvarna, KTM and Triumph brands, is the category leader with 47,766 units (up 51 percent) and a 51 percent market share. Bajaj’s performance is believed to have gotten a boost from the stellar market performance of the 400cc Triumph motorcycles.
Royal Enfield, with 29,519 units comprising the Himalayan 450 and Guerrilla 450, accounts for a 32 percent segment share. Piaggio sold 2,879 units of the Aprilia RS 457, India Kawasaki Motors dispatched 346 units of the Ninja 500 and Eliminator, and Honda sold 183 units of the NX500.
The 350cc-500cc motorcycle segment constituted just one percent of 94,42,637 motorcycles sold between April and December 2024. However, the strong double-digit year-on-year growth is a pointer to the rising demand for premium two-wheelers.
Ved Janve
Vishal Venugopal
Dinshaw Magol
