Pawan Munjal-led Hero MotoCorp has taken six years to eclipse the cumulative sales of the previous three decades when Honda partnered the local company to build one of the most durable cross-border joint ventures. Hero's success as a solo rider is a story of India's journey into consumption adulthood — and a vote of confidence for homegrown talent in consumer technology.
Hero MotoCorp sold a total of 38.9 million units until the end of July 2017, overtaking the cumulative sales of 37.4 million two-wheelers registered by Hero Honda in its 27 years. Notably, in these six years, the share price of Hero Moto-Corp has also doubled, with the market cap racing past 77,000 crore.
The overall two-wheeler market has increased by over 31 per cent to add more than 4.2 million units in this period (FY12-FY17). Total two-wheeler sales in the domestic market stood at 17,589,511units at the end of the last financial year. Hero MotoCorp had a share of 36.9 per cent, and its nearest competitor and erstwhile partner Honda Motorcycle & Scooter India (HMSI) 26.9 per cent.