Hero MotoCorp to sell, develop Harley-Davidson bikes in India; deal signed

Hero Motocorp To Develop Premium Motorcycles Under Harley-Davidson Brand Name

However, if a similar Bajaj-KTM deal in the past is anything to go by, it could mean more Harley-Davidson models that are more appealing to the Asian market in general.

In statements provided to Electrek, Serial 1 Cycle Company's brand director Aaron Frank said the project began with a small group dedicated to make an electric bicycle worth of the Harley-Davidson name. The name is an honorable mention to the first motorcycle produced by the company, simply named "Serial Number One".

American cruiser motorcycle maker Harley-Davidson and India's Hero MotoCorp, the world's largest maker of motorcycles and scooters in terms of unit volumes, has announced a partnership for the Indian market. Under a licensing agreement with Hero, Harley will allow Hero to develop and sell motorcycles under the Harley-Davidson brand.

"We don't want to grow for the sake of growing".

Harley-Davidson Inc beat profit expectations on Tuesday as tighter inventories helped drive up prices and it reined in costs as part of Chief Executive Officer Jochen Zeitz's restructuring plan, sending its shares up as much as 28%.

Hero Motocorp To Develop Premium Motorcycles Under Harley-Davidson Brand Name
Hero and Harley-Davidson sign agreement for India

"We are managing inventory in line or rather a little short of demand", Zeitz said.

Total expenses fell 26% to $196.9 million in the quarter.

The quarter's 8% decline in motorcycles sold was driven by a 10% drop in sales volumes in the USA, the company's strongest market.

Demand for motorcycles in the USA has been rising as riders look to motorcycling as socially distanced recreation during the coronavirus pandemic. The last quarter saw a year-on-year dip in retail sales of 27 per cent, the worst-ever in the past six years.

Harley said it generated $964 million in revenue from motorcycles and related products, down from $1.07 billion in the year-earlier period but ahead of the $844 million expected by analysts. On an adjusted basis, it earned $1.05 cents per share, according to Refinitiv data.



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