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 (April-December 2024: 6,862 units) and gives Hero MotoCorp a 13 percent share of this premium segment.
- Harley X440 reported 31 percent YoY sales growth
- Bajaj is the market leader in this segment, with a 51 percent share
- Total 350-500cc segment sales stand at 92,881 units
The year-ago sales of 6,862 units comprised only the Harley-Davidson X440, which was launched in July 2023. The X440 is the first premium motorcycle to be introduced under the licensing agreement between Hero MotoCorp and Harley-Davidson, marking their foray into the 400cc+ segment for the first time in India.
The co-developed made-in-India Harley rolls out of Hero’s Garden Factory at Neemrana in Rajasthan. The H-D X440, which has three variants – Denim (Rs 2.40 lakh), Vivid (Rs 2.60 lakh) and S (R 2.80 lakh, ex-showroom India) – has sold a total of 8,974 units in April-December 2024, up 31 percent YoY.
The Mavrick 440, Hero’s first motorcycle spawned off this platform, was launched in February 2024. Available in three variants – Base (Rs 1.99 lakh), Mid (Rs 2.14 lakh) and Top (Rs 2.24 lakh) – the Mavrick has sold 3,214 units in the first nine months of FY2025.
As per SIAM wholesales data for the first nine months of FY2025, the 350cc to 500cc motorcycle segment clocked total sales of 92,881 units, up 36 percent YoY (April-December 2023: 68,031 units).
Bajaj Auto, with its own models as well as a clutch of bikes under the Husqvarna, KTM and Triumph brands, is the category leader with 47,766 units (up 51 percent YoY) and a 51 percent market share. Bajaj’s performance is believed to have got a boost from the stellar market performance of the 400cc Triumph motorcycles.
Royal Enfield with 29,519 units, comprising the Himalayan 450 and Guerilla 450, accounts for a 32 percent segment share. While 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.
In the current fiscal, the 350cc-500cc motorcycle segment constitutes just 1 percent of the total 94,42,637 motorcycles sold between April and December 2024. However, the strong double-digit YoY growth is a pointer to the rising demand for premium two-wheelers.
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