The two-wheeler major announced its reinvigorated strategy for the Nigeria market and launched a new range of Hunter motorcycle that is developed especially for the region.
The diversified Kewalram Chanrai Group is the exclusive distributor of Hero MotoCorp in Nigeria. Hero MotoCorp, along with Kewalram Chanrai Group, is aiming to aggressively grow its presence in Nigeria and cater to the continuous demand for great quality products at affordable prices. The new strategy involves providing customers with a comprehensive range of products across the country.
The new Hunter range of bikes will offer customers modern technology with the good mileage, engine life and a long seat. The Hunter is now available across Nigeria, at an introductory price of Naira 2,67,000 (local prices in separate regions may vary).
The Hunter comes with an industry-first 12-month or 75,000 km engine warranty. The motorcycle’s engine has been tested for performance in Nigerian conditions. Hero MotoCorp is also planning to have 3S outlets in 20 towns across Nigeria and will have a pan country presence through dealers and parts distributors. In addition, a network of 5000 trained technicians across Nigeria, will ensure easy access to service and parts for all customers. The Hunter comes with a four-stroke, OHC, Air Cooled engine – delivering a remarkable power output of 7.4 BHP at 8000 RPM and max torque 7.95 NM at 4500 RPM.
The two-wheeler major reported 44.2% jump in net profit to Rs 885.28 crore in Q4 FY21 as against Rs 613.81 crore in Q4 FY20. Net sales during the quarter increased 37.2% year-on-year (Y-o-Y) to Rs 8,689.74 crore.
Hero MotoCorp is the world’s largest manufacturer of motorcycles and scooters, in terms of unit volumes sold by a single company in a year.
Shares of Hero MotoCorp rose 0.10% to Rs 3,051.35 on BSE. The stock hit an intraday low of Rs 3,047.55 and an intraday high of Rs 3,079.65 so far.
Powered by Capital Market – Live News
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
Dear Reader,
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
Digital Editor
