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Hero MotoCorp Ltd., formerly Hero Honda, is an Indian motorcycle and scooter manufacturer based in New Delhi, India. Hero Honda started in 1984 as a joint venture between Hero Cycles of India and Honda of Japan. The company is the largest two wheeler manufacturer in India. The company is the largest two-wheeler manufacturer in India. Hero MotoCorp has ranked 41 in ET 500 ranking 2012. The first plant was established at Dharuhera, Haryana, on the outskirts of New Delhi.
In the years to follow, large industrial areas created for additional manufacturing facilities for Hero MotoCorp Ltd., along with their Ancillaries in Gurgaon, New Delhi and Sidcul, Haridwar. The founder of the company was Brijmohan Lall Munjal. With sheer determination and strong dedication towards manufacturing and production, Hero has established itself as a top bike brand in the industry.
The market value and the brand image of the firm is increasing dramatically. Certainly, the credit needs to be given to the authorities managing the company and the various officials who are giving their all to the company. The current revenue of the company is more than 30,000 crore and constantly growing at a high rate. The company has also introduced certain innovations in the market. The technologies to the company are provided by the Japanese counterpart Honda.
Hero MotoCorp has a short and interesting history. The company has always worked on the motto of continuous growth with continuous objectives satisfaction. Hero has been a very high name in the industry and has acquired much of the Indian market due to its high quality products and services. Hero MotoCorp Limited is the world's largest manufacturer of two-wheelers.
The company has four manufacturing facilities namely Dharuhera and Gurgaon in Haryana Haridwar in Uttarakhand and Neemrana in Rajasthan. The company is based in New Delhi India. The company offers a range of bikes starting from CD Dawn CD Deluxe Splendor Plus Splendor NXG Passion and Passion Pro. The 125 cubic centimeter segment offers Glamour Super Splendor and Glamour F1. It also has an offering called Achiever in 135 cubic centimeter segment. In the 150 cubic centimeter and above the company offers brands like Hunk CBZ X-treme Karizma and the Karizma ZMR.
It also offers a 100 cubic centimeter scooter Pleasure. Hero MotoCorp Limited was incorporated in the year 1984 with the name Hero Honda Motors Ltd. The company was established as a joint venture company between Honda Motor Company of Japan and Hero Group. In the year 1983 they signed a joint collaboration agreement and formed the company.
The joint venture between India's Hero Group and Honda Motor Company Japan has not only created the world's single largest two wheeler company but also one of the most successful joint ventures worldwide. In the year 1985 the company commenced their commercial production at Dharuhera plant in Haryana and introduced their first motorcycle CD 100 in the market. In the year 1989 they launched the new motorcycle model Sleek in the market and in the year 1991 they introduced new motorcycle model CD 100 SS in the market. In the year 1995 the company introduced their extraordinary product Splendor in the market.
In the year 1997 the company inaugurated their second manufacturing facility at Gurgaon in Haryana. Also they introduced new motorcycle model Street in the market. In the year 1999 they launched Hero Honda CBZ the first 150cc motorcycle in the Indian two wheeler industry. In the year 2001 the company introduced new models Passion and Joy in the market. In the next year they introduced new models Dawn and Ambition in the market.In the year 2003 the company launched new motorcycle models namely CD Dawn Splendor+ and Passion Plus in the market. Also they launched Hero Honda Karizma the industry's first 223cc motorcycle.
In the year 2004 they introduced new models Ambition 135 and CBZ* in the market. During the year they renewed the joint technical agreement with the Honda Motors Company Japan. In the year 2005 the company launched Super Splendor CD Deluxe Glamour and Achiever in the market. In the year 2006 the company forayed into scooter segment and launched 100cc gearless scotter Pleasure in the market. In the year 2007 the company launched Splendor NXG CD Deluxe Passion Plus and Hunk in the market. During the year 2007-08 the company commissioned their third plant at Haridwar in Uttarakhand with an initial installed capacity of 500000 units. This plant had lean manufacturing and practices that ensure efficiency.
During the year the company launched new models (including variants) including Splendor NXG Hunk New Super Splendor New Passion plus Commemorative Splendor+ and a refreshed version of Pleasure. During the year 2008-09 the company increased the installed capacity of Motorised 2 wheelers upto 350CC engine by 1800000 Nos to 5200000 Nos. Also they launched eight models: Passion Pro (100 cubic capacity-4 Stroke) CBZ-Extreme (150 cubic capacity - 4 Stroke) Pleasure New Aesthetics Splendor NXG (Self Start) CD Deluxe (Self Start) Glamour FI Glamour (Carb) and HUNK Special Edition. Also they launched new motorcycle model Karizma - ZMR in the market. During the year 2009-10 the company increased the installed capacity of Motorised 2 wheelers upto 350CC engine by 200000 Nos to 5400000 Nos.
The company launched nine new models during the year. During the year 2010-11 the company launched six new models including variants of existing models successfully. They refreshed Glamour and Glamour FI. They introduced the New Hunk Super Splendor and Splendor Pro. The company launched the new upgraded versions of CBZ Xtreme and Karizma.
Also they breached the landmark 5 million figure cumulative sales in a single year. During the year the Indian Promoter Group of the company which comprised of Hero Investments Pvt Ltd (HIPL) Bahadur Chand Investment Pvt Ltd (BCIPL) and Hero Cycles Limited (Hero Cycles) re-aligned the shareholding in the company following a family agreement. As a result Hero Cycles transferred its shareholding in the company to HIPL on May 28 2010.
As a result of these transactions the Indian Promoter Group of the company now comprises of HIPL and BCIPL owned and controlled entirely by the Munjal Family headed by Brijmohan Lall Munjal. Also during the year the Indian Promoter Group and Honda Motor Co Ltd Japan (Honda) entered into a Share Transfer Agreement (the Agreement) on January 22 2011.
As per the terms of the Agreement Honda had agreed to transfer its entire shareholding of 26% in the Company to the Indian Promoter Group bringing an end to the joint venture between the two promoter groups of the company.
The acquisition was completed on March 22 2011 and the shares held by Honda were transferred to the Indian joint venture partner. In addition to the Agreement the Indian Promoter Group and Honda also entered into a License Agreement on January 1 2011. As per this agreement Honda has given to the company the right and license to manufacture assemble sell and distribute certain products and their service parts under their Intellectual Property Rights.
In July 2011 the company changed their name from Hero Honda Motors Ltd to Hero MotoCorp Ltd. No doubt with further development and strategic planning, Hero MotoCorp will continue to set new benchmarks in the market.
Hero has set a trend of developing high technological bikes. They have considered the wants and desires of the customers. Certain objectives set up by the company have reduced the cost of ownership and increased the revenues. High innovation in the engine quality, different parts and overall quality of the bike has increased the sales of the company. There are various innovations introduced by the company which are famous worldwide.
The various features give a new dimension to the overall biking experience. The driving experience improves and therefore the company is renowned among the customers. Hero introduced new features such as LED lights and the new and improved braking system. The improved clutch and engine system has been a revolution in the overall structure and development of the bikes. These myriad features continuously increase the economic growth of the company.
Since its establishment, Hero has continuously focused in developing bikes along with other equipment. Today the net revenue of the company is increasing day by day. There are many innovations and technologies used by the company which are further discussed in the article.
ABS (Anti Braking System) has now made its way onto most modern Hero motorcycles, imparting them almost the same level of safety as we’ve seen in their four-wheeled counterparts. What anti-lock braking system essentially does is constantly monitor the revolution of the wheels with an ECU – sometimes single channel.
When the computer detects a wheel lock-up, common when braking hard on less than ideal surfaces, it steps in by limiting the braking force the rider exerts by either squeezing the lever or pressing the foot pedal and keep the wheel spinning.
Once the imminence of the locking (and therefore skidding) is avoided, the system re-applies the maximum braking force until the next skid is anticipated. By limiting the maximum force of the braking manoeuvre, the ABS systems practically allow riders to use the greatest stopping force possible without locking the wheels. Ride by wire technology involves no direct, physical connection between the twist grip and the throttle butterflies, rerouting it all through an advanced computer.
So when you grab a big handful of throttle for maximum acceleration, it opens the butterflies only fast enough to prevent the air flow stalling. This means more power and better efficiency as the inlet gas flows in more easily. The other advantages of ride-by-wire, apart from smooth acceleration, is the ability to incorporate cruise control, some type of traction control, and push-button power capping.
From providing good and long lasting bikes to manufacturing powerful bikes that rule the road, Hero has done it all. Hero has manufactured some of the most tremendous vehicles available in the market today. This has increase its brand value and brand loyalty. Following are the most famous vehicles of the company:
Hero bikes are well designed. They are stylish and strongly designed to protect the material in case of accident. Further, certain features add to the growing enigma of HERO bikes. The new generation Hero bikes are very reliable and durable. Hero has added many functionalities to make riding easy for the customers.
Further, the spare parts of the bikes are easily available therefore the cost of ownership reduces. The company has one of the most well designed and manufactured bikes in the history. The maintenance cost of the bikes are low. The company also provides number of showrooms and service centers to provide various remedies to the customer’s problems.
In the motorcycle segment, Hero MotoCorp Ltd has faced severe competition from its peers resulting in a loss of market share. Hero MotoCorp Ltd’s margins have remained under pressure in the past fiscal years as the product mix deteriorated. However, with the launch of the LEAP program, Hero MotoCorp Ltd has managed to show a significant cost reduction.
The company has gained the mutual trust of the customers and has manufactured products keeping in mind the needs of the consumers.
The continuous innovation in certain aspects along with a zeal to strive forward will definitely improve the overall structure of the company. Hero has been great for the Indian market and economy. If it keeps functioning this way, it can represent India more precisely in the global market of motorcycles.
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