Hero MotoCorp Limited

Hero MotoCorp Limited, more popularly known as Hero Motorcycles, is an Indian two-wheeler manufacturer, producing motorbikes and scooters. Originally known as Hero Honda Motors
Limited, it was an amalgamation of Hero (an Indian company) and Honda (a Japanese company) for 26 years from 1984 to 2010. Hero MotoCorp has been the world’s largest manufacturer of two-wheelers since 2001. Hero MotoCorp is based in New Delhi, the capital of India. The company was established in partnership with Honda in 1984 by Dr. Brijmohan Lall Munjal. He is also the current Chairman of the Hero MotoCorp Ltd.

History of Hero MotoCorp
The principal owner of the Hero two-wheeler manufacturing unit – Hero Cycles – was founded in 1956 in Ludhiana, Punjab, by the Munjal brothers. In 1975, Hero Cycles became the largest manufacturer of bicycles in India. An agreement of collaboration and formation of a joint venture was signed between Hero Group of India and Honda of Japan in 1983. A year later, Hero Honda Motors Limited came into existence. In 2001, the company attained the status of being the largest manufacturer of two-wheelers in the world. The Japanese partner Honda walked out of the partnership in 2010, selling the 26 percent of stakes it held to Hero. The company was named Hero MotoCorp in August 2011.

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Hero Motocorp Plant Locations in India
Hero MotoCorp has manufacturing facilities located at five locations in India. The five manufacturing plants of Hero MotoCorp have a combined production capacity of more than 9 million vehicles annually.

Satyavedu, Andhra Pradesh
Dharuhera, Haryana
Gurgaon, Haryana
Neemrana, Rajasthan
Haridwar, UttarakhandHero MotoCorp has over 7,000 dealership and service centre units in 29 states and four union territories of India.

Hero Motocorp Current Models
Being the largest manufacturer of two-wheelers in India and the world, Hero MotoCorp produces a diversified range of models and variants to cater to the needs and demands of its customers.Following are the current models and their starting prices:
Karizma ZMR (Rs. 1,05,500)
Karizma (Rs. 83,900)
Xtreme Sports (Rs. 72,625)
Xtreme (Rs. 71,925)
Hunk (Rs. 69,725)
Impulse (Rs. 71,400)
Achiever (Rs. 61,425)
Ignitor (Rs. 60,500)
Glamour Programmed Fi (Rs. 65,600)
Glamour (Rs. 55,925)
Super Splendor (Rs. 53,600)
Splendor iSmart (Rs. 50,000)
Splendor Pro Classic (Rs. 50,500)
Splendor Pro (Rs. 47,650)
Splendor+ (Rs. 45,850)
Passion Xpro (Rs. 49,525)
Passion Pro (Rs. 47,650)
Passion Pro TR (Rs. 53,500)
HF Deluxe Eco (Rs. 46,150)
HF Deluxe (Rs. 42,100)
HF Dawn (Rs. 39,470)
Maestro (Rs. 48,050)
Pleasure (Rs. 44,650)
Hero Motocorp Future
Hero motorcycles are a household name in India and are famous worldwide. The continuous manufacturing of quality products over the years helped Hero MotoCorp achieve the status of being the largest manufacturer of two-wheelers in the world, as being the most sought-after brand is a per-requisite for being the biggest producer. A vision and a strategy for the company to strive hard to keep moving towards perfection have been laid down. The company’s vision document says, “The story of Hero Honda began with a simple vision – the vision of a mobile and an empowered India, powered by its two wheelers. Hero MotoCorp Ltd., company’s new identity, reflects its commitment towards providing world class mobility solutions with renewed focus on expanding company’s footprint in the global arena. Hero MotoCorp’s key strategies are to build a robust product portfolio across categories, explore growth opportunities globally, continuously improve its operational efficiency, aggressively expand its reach to customers, continue to invest in brand building activities and ensure customer and shareholder delight”.Hero MotoCorp Ltd. (Formerly Hero Honda Motors Ltd.) is the world’s largest manufacturer of two – wheelers, based in India. In 2001, the Company achieved the coveted position of being the largest two-wheeler manufacturing Company in India and also, the ‘World No.1′ two-wheeler Company in terms of unit volume sales in a calendar year. Hero MotoCorp Ltd. continues to maintain this position till date. Vision The story began with a simple vision – the vision of a mobile and an empowered India, powered by its bikes. Hero MotoCorp Ltd., company’s new identity, reflects its commitment towards providing world class mobility solutions with renewed focus on expanding company’s footprint in the global arena. Mission Hero MotoCorp’s mission is to become a global enterprise fulfilling its customers’ needs and aspirations for mobility, setting benchmarks in technology, styling and quality so that it converts its customers into its brand advocates. The Company will provide an engaging environment for its people to perform to their true potential. It will continue its focus on value creation and enduring relationships with its partners. Strategy Hero MotoCorp’s key strategies are to build a robust product portfolio across categories, explore growth opportunities globally, continuously improve its operational efficiency, aggressively expand its reach to customers, continue to invest in brand building activities and ensure customer and shareholder delight. Manufacturing Hero Honda bikes are manufactured across three globally benchmarked manufacturing facilities. Two of these are based at Gurgaon and Dharuhera which are located in the state of Haryana in northern India. The third and the latest manufacturing plant is based at Haridwar, in the hill state of Uttarakhand. Technology In the 1980’s the Company pioneered the introduction of fuel-efficient, environment friendly four-stroke motorcycles in the country. It became the first Company to launch the Fuel Injection (FI) technology in Indian motorcycles, with the launch of the Glamour FI in June 2006. Its plants use world class equipment and processes and have become a benchmark in leanness and productivity. Hero MotoCorp, in its endeavor to remain technology pioneer, will continue to innovate and develop cutting edge products and processes. Products Hero Honda’s product range includes variety of motorcycles that have set the industry standards across all the market segments. The Company also started manufacturing scooter in 2005. Hero Honda offers large no. of products and caters to wide variety of requirements across all the segments. Distribution The Company’s growth in the two wheeler market in India is the result of an intrinsic ability to increase reach in new geographies and growth markets. Hero MotoCorp’s extensive sales and service network now spans over to 5000 customer touch points. These comprise a mix of authorized dealerships, Service & Spare Parts outlets, and dealer-appointed outlets across the country. Brand The new Hero is rising and is poised to shine on the global arena. Company’s new identity “Hero MotoCorp Ltd.” is truly reflective of its vision to strengthen focus on mobility and technology and creating global footprint. Building and promoting new brand identity will be central to all its initiatives, utilizing every opportunity and leveraging its strong presence across sports, entertainment and ground- level activation. 2010-11 Performance Total unit sales of 54,02,444 two-wheelers, growth of 17.44 per cent Total net operating income of Rs. 19,401.15 Crores, growth of 22.32 per cent Net profit after tax at Rs. 1,927.90 Crores Total dividend of 5250% or Rs. 105 per share including Interin Dividend of Rs. 70 per share on face value of each share of Rs. 2 each EBIDTA margin for the year 13.49 per cent EPS of Rs. 96.54
Hero MotoCorp is the World’s single largest two–wheeler motorcycle company. Honda Motor Company of Japan and the Hero Group entered a joint venture to setup Hero Honda Motors Limited in 1984. 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.

During the 80s, Hero Honda became the first company in India to prove that it was possible to drive a vehicle without polluting the roads. The company introduced new generation motorcycles that set industry benchmarks for fuel thrift and low emission. A legendary ‘Fill it – Shut it – Forget it’ campaign captured the imagination of commuters across India, and Hero Honda sold millions of bikes purely on the commitment of increased mileage.

Over 20 million Hero Honda two wheelers tread Indian roads today. These are almost as many as the number of people in Finland, Ireland and Sweden put together. Hero Honda has consistently grown at double digits since inception; and today, every second motorcycle sold in the country is a Hero Honda. Every 30 seconds, someone in India buys Hero Honda’s top –selling motorcycle ? Splendor. This festive season, the company sold half a million two wheelers in a single month?a feat unparalleled in global automotive history.

Hero Honda became the first company in the country to introduce four–stroke motorcycles and set the standards for fuel efficiency, pollution control and quality. It has an excellent distribution and service network spread throughout the country.

Hero Honda bikes currently roll out from its three globally benchmarked manufacturing facilities. Two of these are based at Dharuhera and Gurgaon in Haryana and the third state of the art manufacturing facility was inaugurated at Haridwar, Uttrakhand in April this year. These plants together are capable of producing out 4.4 million units per year.

Having reached an unassailable pole position in the Indian two wheeler market, Hero Honda is constantly working towards consolidating its position in the market place. The company believes that changing demographic profile of India, increasing urbanization and the empowerment of rural India will add millions of new families to the economic mainstream. This would provide the growth ballast that would sustain Hero Honda in the years to come. As Brijmohan Lall Munjal, the Chairman, Hero Honda Motors succinctly points out, ‘We pioneered India’s motorcycle industry, and it’s our responsibility now to take the industry to the next level. We’ll do all it takes to reach there.”
Milestones:
1983
Joint Collaboration Agreement with Honda Motor Co. Ltd. Japan signed
Shareholders Agreement signed
1984
Hero Honda Motors Ltd. Incorporated
1985
First motorcycle ‘CD 100’ rolled out
1987
100,000th motorcycle produced
1989
New motorcycle model – ‘Sleek’ introduced
1991
New motorcycle model – ‘CD 100 SS’ introduced
500,000th motorcycle produced
1992
Raman Munjal Vidya Mandir inaugurated – A School in the memory of founder Managing Director, Mr. Raman Kant Munjal1994
New motorcycle model – ‘Splendor’ introduced
1,000,000th motorcycle produced
1997
New motorcycle model – ‘Street’ introduced
Hero Honda’s 2nd manufacturing plant at Gurgaon inaugurated
1998
2,000,000th motorcycle produced
1999
New motorcycle model – ‘CBZ’ introduced
Environment Management System of Dharuhera Plant certified with ISO–14001 by DNV Holland
Raman Munjal Memorial Hospital inaugurated – A Hospital in the memory of founder Managing Director, Mr. Raman Kant Munjal2000
4,000,000th motorcycle produced
Environment Management System of Gurgaon Plant certified ISO–14001 by DNV Holland
Splendor declared ‘World No. 1’ – largest selling single two–wheeler model
‘Hero Honda Passport Programme’ – CRM Programme launched
2001
New motorcycle model – ‘Passion’ introduced
One million production in one single year
New motorcycle model – ‘Joy’ introduced
5,000,000th motorcycle produced
2002
Becomes the first Indian Company to cross the cumulative 7 million sales mark
Splendor has emerged as the World’s largest selling model for the third calendar year in a row (2000, 2001, 2002)
New motorcycle model – ‘CD Dawn’ introduced, New motorcycle model – ‘Splendor +’ introduced, New motorcycle model – ‘Passion Plus’ introduced, New motorcycle model – ‘Karizma’ introduced
2004
New motorcycle model – ‘Ambition 135’ introduced
Hero Honda became the World No. 1 Company for the third consecutive year.

Crossed sales of over 2 million units in a single year, a global record
Splendor – World’s largest selling motorcycle crossed the 5 million mark
New motorcycle model – ‘CBZ’ introduced
Joint Technical Agreement renewed
Total sales crossed a record of 10 million motorcycles
2005
Hero Honda is the World No. 1 for the 4th year in a row
New motorcycle model – ‘Super Splendor’ introduced, New motorcycle model – ‘CD Deluxe’ introduced New motorcycle model – ‘Glamour’ introduced, New motorcycle model – ‘Achiever’ introduced
First Scooter model from Hero Honda – ‘Pleasure’ introduced
2006
Hero Honda is the World No. 1 for the 5th year in a row
15 million production milestone achieved
2007
Hero Honda is the World No. 1 for the 6th year in a row
New ‘Splendor NXG’ launched
New ‘CD Deluxe’ launched
New ‘Passion Plus’ launched
New motorcycle model ‘Hunk’ launched
20 million production milestone achieved
2008
Hero Honda Haridwar Plant inauguration
New ‘Pleasure’ launched
Splendor NXG launched with power start feature
New motorcycle model ‘Passion Pro’ launched
New ‘CBZ Xtreme’ launched
25 million production milestone achieved
CD Deluxe launched with power start feature
New ‘Glamour’ launched
New ‘Glamour Fi’ launched
2009
Hero Honda GoodLife Program launched Hunk’ (Limited Edition) launched
Splendor completed 11 million production landmark
New motorcycle model ‘Karizma – ZMR’ launched
Silver jubilee celebrations
2010
New model Splendor Pro launched
Launch of new Super Splendor and New Hunk
2011
New licensing arrangement signed between Hero and Honda
Launch of new refreshed versions of Glamour, Glamour FI, CBZ Xtreme, KarizmaCrosses the landmark figure of 5 million cumulative sales in a single year
July 29, 2011 – Hero Honda Motors changed its name to Hero MotoCorp following the exit of its erstwhile Japanese promoter, Honda, from the company
2012
Migration of all products to Brand Hero
Launch of Impulse, Maestro and Ignitor2013  
Neemrana Plant Foundation Stone laid
50 Million cumulative 2 wheelers production
Achievements/ recognition:–
2013
Green Pioneer Award – 2013
Business Leader of the Year’ Award by Hon’ble President of India, Shri. Pranab Mukherjee, at the AlMA Managing India Awards 2013 on April 11, 2013 (Conferred on Mr. Pawan Munjal)
Business Leader of the Year’ Award in the Auto (Two Wheelers) category by Deputy Chairman of the Planning Commission Mr. Montek Singh Ahluwalia, at the NDTV Business Leadership Awards 2013 (Conferred on Mr. Pawan Munjal)
CFO of the year Award (Conferred on Mr. Ravi Sud)
2012
Business Leader in Automobiles (two–wheelers) at the NDTV Profit Business Leadership Awards 2012 (Conferred upon Mr. Pawan Munjal)
Best value for Money Bike Maker and Best Advertising in Two Wheelers Category at the Auto India Best Brand Awards 2012
Digital Advertiser of the year at the Indian Digital Media Awards (IDMA) 2012
Three awards (Launch Event of the year, Rural Engagement Progamme and Live Patron Award for Marketing Excellence) at the WOW Awards organised by EventFAQsAdvertiser of the year 2012 by Indian Digital Media Awards 2012
Innovation in Loyalty Marketing Award (Initiative: Hero GoodLife Utsav) by Colloquy Loyalty Awards
TPM Excellence Award 2012 by JIPM (Japan Institute of Plant Maintenance)
2011
Two–wheeler Manufacturer of the Year award by Bike India magazine
Adjudged the ‘Bike Manufacturer of the Year’ at the Economic Times ZigWheels Car and Bike Awards
2010
Rated as Top Indian Company in Automobile – Two Wheelers sector by Dun & Bradstreet – Rolta Corporate Awards 2009
Most Preferred Brand of Two–Wheelers’ award at the CNBC Awaaz Consumer Awards.

Adjudged at top of the two–wheeler category in the Brand Equity Most Trusted Brands 2010 Survey
Ranked No. 3 Most Trusted Brand across categories amongst Young Adult Males
Company of the Year awarded by Economic Times Awards for Corporate Excellence 2008–09
CNBC TV18 Overdrive Awards 2010 ‘Hall of Fame’ to SplendorNDTV Profit Car & Bike Awards 2010 – Two–wheeler Manufacturer of the Year, CnB Viewers’ Choice Two–wheeler of the Year (Karizma ZMR) and Bike Maker of the Year by ET–ZigWheels Car & Bike of the Year Awards 2009′
2009
‘Two–wheeler Manufacturer of the Year’ by NDTV Profit Car & Bike Awards 2009 and Passion Pro adjudged as CNB Viewers’ Choice two–wheeler
Top Indian Company under the ‘Automobile – Two–wheelers’ sector bythe Dun & Bradstreet–Rolta Corporate Awards
Won Gold in the Reader’s Digest Trusted Brand 2009 in the ‘Motorcycles’ category
NDTV Profit Business Leadership Awards 2009 – two–wheeler category
2008
NDTV Profit Business Leadership Award 2008
TopGear Design Awards 2008
NDTV Profit Car India & Bike India Awards
IndiaTimes Mindscape and Savile Row ( A Forbes Group Venture ) Loyalty Awards
Asian Retail Congress Award for Retail Excellence (Strategies and Solutions of business innovation and transformation)
NDTV Profit Car India & Bike India Awards
Overdrive Magazine
TNS Voice of the Customer Awards
2007
The NDTV Profit Car India & Bike India Awards 2007  
2006 
Corporate Social Responsibility Award
Top Indian company in the Automobile – Two Wheeler sector by Dun & Bradstreet – American Express Corporate Awards 2006
Hero Honda Splendor rated as India’s most preferred two–wheeler brand at the Awaaz Consumer Awards 2006
NDTV Profit Car India & Bike India Awards 2006
2005 
Awaaz Consumer Awards 2005 Bike Maker of the Year Award by Overdrive Magazine
2004 
Winner of the Review 200 – Asia’s Leading Companies Award (3rd Rank amongst the top 10 Indian companies)
ICSI National Award for Excellence in Corporate Governance 2004 by The Institute of Company Secretaries of India. 
2003 
Winner of the Review 200
Most Respected Company in Automobile Sector by Business World
Bike Maker of the Year by Overdrive Magazine. 
2002
Bike Maker of the Year by Overdrive Magazine
Winner of the Review 200 Company of the Year of ET Awards for Corporate Excellence.

2001 
Bike Maker of the Year by Overdrive Magazine
Winner of Three Leaves Award for showing Corporate Environment Responsibility in the Automobile Sector by Centre for Science & Environment
Business School Award for Corporate Performance to Hero Honda Motors Ltd.

And many more..