Hero Electric leads High-Speed Segment with market share of 36%
By Sanjay Jadhav
August 7, 2020
According to the latest EV monthly updates released by “JMK Research and Analytics” Hero Electric, continues to be a clear winner in the 1st four months of the current year with a market share of 36% in the High-Speed Segment. The initiatives taken by Hero in the last 4 months are being applauded by the industry and customers alike.
Hero already commands a market share of 45% in the balance category of electric two-wheelers and that gives it the Number One position across all segments of the electric two wheelers.
The brand’s agile mindset led it to focus on online channels for its sales amid the pandemic. The company witnessed over 40,000 customer engagements resulting in a six-fold increase in its online sales over the previous year within in the 1st four months of 20-21. During this period the company launched a series of attractive schemes to appease to a contemporary audience including, Be a Bike Buddy; Be a Green Hero; Take home a Hero- return if you don’t like it, that led to greater enquiries and interest of the customers even during the peak lock down period.
Commenting on the feat and impact of the brand’s swift actions amidst the lockdown, Sohinder Gill, CEO, Hero Electric said, “Our quick thinking, willingness to take risks, and trying different methods paid-off to not let the lockdown negatively impact our business. This fresh approach also kept our people, driven, and motivated and our stakeholders assured. We are happy to have been able to attract customers, more in fact, during this troubled period of lockdown and pandemic. Coming out on top with the highest number of electric scooters sold – across all categories – between April and July, is a testament of our unwavering determination to work harder. We have great plans for the second half of 2020, and we are not going to let anything deter us from achieving what we set out to this year. Our no-emission mission continues.”
Hero Electric is committed to push and foster eco-friendly mobility in India. The brand’s efforts have been in line with promoting EVs in the country through such initiatives so that people do not choose but want electric vehicles over ICE counterparts. Hero Electric is ambitious about its plans for the reminder of the year and expects to achieve record sales despite the lockdown for FY21.
