Hero Honda Motors, the world's largest two-wheeler company by volume would change its corporate name to ‘Hero MotoCorp’ for which it has received the shareholders approval. The company will now forward the shareholder’s approval to the Registrar of Companies for final changes.
After 27 years of partnership between Munjals' Hero Group and Japan’s Honda Motor in Hero Honda Motors, Japan’s Honda Motors is exiting the joint venture. The joint venture was India's largest motorcycle manufacturer with more than half the domestic market.
Till 2014, the Munjals hold the right to use the Hero Honda name and the company has assigned London-based brand specialist Wolff Olins to developed a new look for it. The group has also set aside 100 crore for a new brand identity, which includes a new name, logo and positioning.
The Hero Group, for its part, hopes to explore new products and export opportunities; now it has also been released from the ban of exporting to markets where Honda has presence. It also plans to export to Latin America, Africa, West Asia and Southeast Asia.
Recently, Hero Honda had reported 14.75% increase in sales during May at 5,00,234 units as compared to 4,35,933 units during the same month last year. This was the third consecutive month that the company’s monthly sales have crossed the five lakh mark. The company had crossed one million sales mark in the very first two months of this fiscal. Setting new industry benchmarks with consecutive months of over five lakh sales, it had put itself well on course towards its guidance of over six million unit sales in this fiscal year (FY12).
| Company Name | CMP |
|---|---|
| Bajaj Auto | 8761.70 |
| Hero MotoCorp | 4280.80 |
| TVS Motor | 2392.45 |
| Eicher Motors | 4743.45 |
| Atul Auto | 570.00 |
| View more.. | |
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