Hero MotoCorp shifts gears in mid-size, premium space with launch of Mavrick 440, Xtreme 125R

In a bid to strengthen its mid-size and premium portfolio, India's largest two-wheeler maker Hero MotoCorp today launched two new products - the Mavrick 440 and Xtreme 125R. 

The automaker did not announce the price of the Mavrick 440, while the Xtreme 125R comes at a starting price of Rs 95,000. 

Mavrick is a roadster, based on Harley-Davidson’s X440 platform, the first co-developed model with Harley-Davidson that will be sold under Hero’s brand. The model comes in three variants. Mavrick 's booking and price announcement will happen in February with delivery expected to start from April.

In 2020, Hero MotoCorp partnered with US-based Harley-Davidson for a distribution and licensing agreement to co-develop and sell premium motorcycles in India. The new Harley-Davidson X440, launched during the festival season, was the first co-developed model. X440 is being manufactured at Hero MotoCorp's Garden Factory at Neemrana in Rajasthan and has an ex-showroom price of Rs 2.80 lakh.

Meanwhile, the Xtreme 125R which is a premium offering in the 125cc segment comes in two variants at a starting price of Rs 95,000 and an average mileage of 66 kmpl, which the company claims to be the best in class. The delivery will commence from February 20.

Hero MotoCorp, which is already a dominant player in the entry-level motorcycle segment, has been focusing on the mid-size and premium segments to improve the company’s market share and margins as the entry-level market has been struggling to revive after the pandemic. 

At the beginning of the current financial year, Hero MotoCorp had said it plans for the highest number of product launches during the year with more focus on the 125cc and premium segments and XTECH variants. Having a modest presence in the premium space with just Xtreme and XPulse bikes, Hero MotoCorp re-launched its sports bike Karizma in September.

With the addition of Mavrick and Karizma to its premium portfolio and strong demand in the segment, Hero MotoCorp could be looking to potentially double its annual volumes.

Hero Motocorp has launched four new products in the mid-size and premium segments in the last seven months. “We are now changing gears. Speed, scale, synergy and simplify are the mantras for the ride into tomorrow,” Chief Executive Office Niranjan Gupta said.

Talking about the Mavrick, Chief Business Officer Ranjivjit Singh said: “The upper premium segment has undergone remarkable growth. It has seen a six-fold growth in the last decade. Mavrick reflects our confidence in capability and determination to lead, not just in terms of market share, but also in terms of product excellence.”

Bajaj Auto also has a similar partnership with UK-based Triumph Motorcycles. In July, both companies launched their first set of co-developed motorcycles - Triumph Speed 400 and Triumph Scrambler 400X. Bajaj Auto, which has taken over the British motorcycle maker's sales and marketing operations in India, manufactures the co-developed models at its facility in Pune.