Indian motorcycle legends Hero Motocorp will now sell and service Harley Davidson motorcycles in India, the Indian motorcylce giants confirmed the same in a press release on Tuesday.
Harley Davidson announced the closure of its wholly-owned business in India after they had shut down its plant in Haryana earlier this year.
Although the statement from Hero does not specify whether all the existing Harley-Davidson dealerships will continue to function, but it clearly mentions that apart from sales and services, Hero Motocorp will sell Parts & Accessories and General Merchandise riding gear and apparel through a network of brand-exclusive Harley-Davidson dealers and Hero’s existing dealership network in India.
The most exciting part of the announcement comes across with the statement stating that, as part of the Licensing agreement with the American motorcycle giants, Hero MotoCorp will be developing and selling a range of premium motorcycles under the Harley-Davidson brand name.
While it is not yet sure about when Hero will start developing Harley-Davidsons on their own, but the best news for the fans of the American icon is that the brand gets to live in India and that its lakhs of existing customers won’t be left in the lurch.
Earlier in the year, Harley said that it planned to reduce its product portfolio and exit lower volume markets, without specifying which ones.
The company said it now expects total restructuring costs of about $169 million in 2020, and this will also include a workforce reduction of about 70 employees in India, a market where its annual sales volumes account for less than 5 per cent of the company’s total.
The company reported a loss of 60 cents per share for the quarter through June, compared with a profit of $1.23 per share a year ago. Analysts had on average expected the profit to come in at 4 cents per share, according to IBES data from Refinitiv.
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