Hero MotoCorp to open 100 exclusive stores for premium models in FY24

The chip supply to Indian auto companies has improved in the last few quarters, but it is yet to reach pre-pandemic levels

Hero MotoCorp on Monday said it plans to open more than 100 exclusive stores for premium models in 2023-24 at “prime” locations across the country to provide “sensorial experience” to customers.

The company plans to launch a premium motorcycle model (within 150cc-450 cc) in each quarter of 2023-24, its CEO Niranjan Gupta had said last week. Hero has about 9,000 touch points, including 1,000 primary dealerships in India.

Apart from establishing a product portfolio to “win” in the premium segment, the company will develop a premium brand image and elevate customers’ retail buying experience, it said in an investor presentation