Hero MotoCorp receives 25,000 bookings for Harley-Davidson X440; stock surges 4%

Auto major Hero MotoCorp has received 25,597 bookings for its premium segment motorcycle Harley Davidson X440, the company says in a regulatory filing on Tuesday. The company launched Harley Davidson X440 on July 4 this year, marking its foray into the 440cc bike segment in India. The premium motorcycle will be manufactured at the company’s Garden Factory at Neemrana, Rajasthan.

The booking window for Harley Davidson X440 has now been closed, and the new booking window will be announced soon, according to the company. Hero MotoCorp will start production of the Harley-Davidson X440 in September 2023 and commence customer deliveries from October onwards. According to the company, 65% of the booking is for the top-end variant priced at ₹2.69 lakh.

"What is even more heartening is that the majority of our bookings are coming from the top-end model, clearly indicating that customers are willing to pay a higher price for the right brand and right model. This is just the beginning of our journey to win in the premium segment. More Iconic launches will follow soon, as we ensure our presence across the portfolio," says Niranjan Gupta, CEO, Hero MotoCorp.

The development comes days after the two-wheeler manufacturer hiked the price of ₹10,500 crore beginning August 4. The revised prices for the Denim, Vivid and S variants are ₹2,39,500/-, ₹2,59,500/- and ₹2,79,500/- respectively. Notably, Harley Davidson X44O has locked horns with Triumph Speed 400.

Following the development, the shares of Hero MotoCorp surged as much as 4.6% to hit an intraday high of ₹3,088 apiece on the BSE. During the session, the company’s market capitalisation stood at ₹61,271.45 crore, with 58,407 shares exchanging hands as against the two-week average of 0.47 lakh shares.

The Harley-Davidson X440 is touted to carry the DNA of the iconic Harley-Davidson brand with its distinctive design, all-metal body, and powerful engine. Hero claims the motorbike is "nimble and agile in traffic, yet supremely robust and comfortable over rough terrain".

According to Pawan Munjal, executive chairman, Hero MotoCorp, the launch of the Harley-Davidson X440 is a "significant milestone" in the auto major's premium journey. "The motorcycle brings the best of the iconic Harley Davidson’s signature elements with the manufacturing expertise and trusted quality of Hero," Munjal said earlier.

The Harley-Davidson X440 boasts of the all-new 440cc oil-cooled, long-stroke BSVI and E20 compliant engine, a first for Hero MotoCorp. The engine punches a power output of 27 bhp and maximum torque of 38 NM. According to the two-wheeler manufacturer, the motorcycle generates 90% of its peak torque from as low as 2000 rpm. The 6-speed transmission with optimised gearing allows for highway cruising and relaxed city commuting, the company said earlier.

In the Q4 of FY23, the two-wheeler manufacturer reported a 37% surge in net profit at ₹859 crore against ₹627 crore in the corresponding period of the previous year. The company’s revenue from operations jumped 12% to ₹8,307 crore as against ₹7,422 crore in the same period of the previous year.