A company that sells nearly 7 million units a year, Hero MotoCorp has again entered the used bike industry. Called Hero Sure, the used bike business from Hero MotoCorp will ensure customers get a fair price of their pride and joy with a completely transparent process of evaluation. Currently available in the states of Gujarat and Tamil Nadu only, Hero does have plans to expand across the country but at a moderate pace. Hero Sure enables customers to exchange their old bike or scooter in exchange of a new Hero Bike.
With a customer base of nearly 10 million across the country, even if a small percentage of them upgrade to a new Hero bike, the largest bike manufacturer of India could grow its sales by a huge margin. Currently the Sure outlets present in Gujarat and Tamil Nadu are exchanging an average of 5000 units a month. The number can easily be increased multiple fold through the strong dealership network the company has. Currently Hero MotoCorp has a network of 6,500 dealerships across the country.
Hero was in the used bike business before but had to shut it down due to certain tax issues. With the introduction of Goods and Service Tax (GST) the bike manufacturer has made a re-entry in the said market. Hero Sure has been promoted by Pawan Munjal, Chairman, Managing Director and CEO of Hero MotoCorp. Will this step help boost sales dramatically? Time will tell.