Indian Pulse Media

Hero MotoCorp plans to reach 30% of sales via digital channels by 2030

<p>The biggest two-wheeler manufacturer in the nation, Hero MotoCorp, has set a goal to reach 30% of its sales via digital channels by 2030.</p>
<p>The firm, which sold 54 lakh motorbike and scooter units in the most recent fiscal year, also aims to have 30% of its staff be female by 2030.</p>
<p>In the company’s annual report for 2022–2023, Hero MotoCorp Executive Chairman Pawan Munjal said, “We have set an ambitious goal of achieving 30% sales through digital channels by the year 2030.”<img decoding=”async” class=”alignnone wp-image-85848″ src=”” alt=”” width=”1417″ height=”745″ srcset=” 310w,×79.jpg 150w” sizes=”(max-width: 1417px) 100vw, 1417px” /></p>
<p>According to him, the business, which produced 5.3 million units in 2022–2023, has improved the user experience of digital channels, which have become a popular destination for consumers’ pre- and post-purchase demands.</p>
<p>According to Munjal, the business has made considerable investments in modernizing its information technology systems, deploying automation technologies, and using sophisticated analytics and Artificial Intelligence (AI) capabilities.</p>
<p>He said, “By the end of the current fiscal, our flagship project, the ‘Digital Factory Lighthouse,’ installed in the manufacturing facility at Tirupati in Andhra Pradesh, targets increasing productivity by 20%.”</p>
<p>According to Munjal, the semi-urban and rural markets in India, which faced difficult conditions throughout the year, are the main drivers of the demand for motorbikes and scooters.</p>
<p>But, he said, the underlying growth drivers are still in place.</p>
<p>According to Munjal, “We remain confident that Hero MotoCorp will pave the way to a successful 2023–24 given the country’s young skilled population, the strong economic growth potential of rural and semi-urban areas, easier access to consumer credit, and a swelling demand for last-mile connectivity.”</p>
<p>The two-wheeler industry leader said that despite difficult market circumstances throughout the world, it continues to invest in brand development, new product introductions, and extending network coverage.</p>
<p>The biggest two-wheeler manufacturer in the world, he said, “we remain committed to our market development efforts and have long-term plans for establishing our presence in new markets and growing our share in existing ones.”</p>
<p>Munjal said that moving forward, the business plans to increase the value emphasis on both its internal combustion engine (ICE) and electric vehicle (EV) products.</p>
<p>“We expect a healthy growth and are targeting production of over 6.5 million two-wheelers in 2023-24 for domestic and export purposes,” the official said.</p>

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