Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  MUMBAI STOCK EXCHANGE  >  Hero MotoCorp Limited    500182   INE158A01026

HERO MOTOCORP LIMITED

(500182)
  Report
SummaryChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsPress ReleasesOfficial PublicationsSector newsMarketScreener StrategiesAnalyst Recommendations

Hero MotoCorp : Dealers in India consider legal action against Harley Davidson

11/10/2020 | 06:09am EST
FILE PHOTO: The logo of U.S. motorcycle company Harley-Davidson is seen on one of their models at a shop in Paris

NEW DELHI (Reuters) - Dealers in India for Harley-Davidson Inc said on Tuesday they are exploring legal action against the iconic American motorcycle brand after it effectively exited the market as part of a broader restructuring plan.

A number of dealers have hired leading Indian law firm AZB & Partners to review their paperwork with Harley-Davidson and suggest if there is a legal remedy, Rishi Aggarwal, a dealer for the motorcycle company, told reporters.

"Harley has to compensate us for our losses. That is the only bone of contention. AZB is studying the case," he said during a press conference organised by The Federation of Automobile Dealers Association (FADA) in India.

Harley-Davidson did not immediately respond to a request for comment.

The U.S. company in September said it would discontinue its sales and manufacturing operations in India after a decade of struggling to gain a foothold. A month later it entered a distribution deal with India's Hero MotoCorp which will also develop motorcycles to be sold under the Harley-Davidson brand.

India is one of the world's largest motorbike and scooter markets but the bulk of sales come from low-end, commuter models.

Harley-Davidson's annual sales in the country halved to 2,470 motorcycles in the fiscal year to March 31 from 4,641 units five years earlier, industry data shows.

General Motors (GM), MAN Trucks and UM Motorcycles have also exited India in the last three years, creating uncertainty for dealers that typically invest millions of dollars to set up showrooms.

FADA said it typically costs between 50 million and 80 million rupees ($673,682-$1 million) to set up a Harley-Davidson dealership. Compensation being offered by the company is around 10% of the investment, it estimates.

"They have come back to us with some numbers but it is not even 10% of what we are looking for. It is peanuts," said Arjun Bafna, who has been a Harley-Davidson dealer for 10 years.

(Reporting by Aditi Shah; Editing by Kirsten Donovan)

By Aditi Shah


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
GENERAL MOTORS COMPANY 9.75% 54.84 Delayed Quote.20.00%
HERO MOTOCORP LIMITED 2.11% 3230.9 End-of-day quote.3.91%
All news about HERO MOTOCORP LIMITED
01/13HERO MOTOCORP : Indian Two-Wheeler Company Hero MotoCorp Appoints Distributor in..
MT
01/04HERO MOTOCORP : Motorcycle, Scooter Sales Rose 5.3% in December
DJ
01/03HERO MOTOCORP : Sales Increase to 447,335 Units in December 2020
MT
2020Indian automakers fear container shortage to hit parts supply, output
RE
2020HERO MOTOCORP : to Raise Vehicle Prices from Jan 1
DJ
2020HERO MOTOCORP : to Hike Product Prices from Start of 2021
MT
2020HERO MOTOCORP : Donates Three First Responder Vehicles to Healthcare Authorities..
MT
2020India's passenger vehicle sales rise 5% in November - industry body
RE
2020Hero MotoCorp Clocks 14% Rise in Total Sales in November
MT
2020Hero MotoCorp Appoints New COO
MT
More news
Financials
Sales 2021 289 B 3 959 M 3 959 M
Net income 2021 26 417 M 361 M 361 M
Net cash 2021 81 613 M 1 116 M 1 116 M
P/E ratio 2021 24,5x
Yield 2021 2,22%
Capitalization 645 B 8 817 M 8 827 M
EV / Sales 2021 1,95x
EV / Sales 2022 1,60x
Nbr of Employees 8 599
Free-Float 63,0%
Chart HERO MOTOCORP LIMITED
Duration : Period :
Hero MotoCorp Limited Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends HERO MOTOCORP LIMITED
Short TermMid-TermLong Term
TrendsBullishNeutralBullish
Income Statement Evolution
Consensus
 
Mean consensus -
Number of Analysts
Average target price
Last Close Price 3 230,90 
Spread / Highest target -
Spread / Average Target -
Spread / Lowest Target -
EPS Revisions
Managers and Directors
NameTitle
Pawan Kant Munjal Chairman, Chief Executive Officer & MD
Michael J. P. Clarke Chief Operating & Human Resources Officer
Niranjan Gupta Chief Financial Officer
Vijay Sethi Chief Information Officer
Vikram S. Kasbekar Chief Technical Officer & Executive Director
Sector and Competitors
1st jan.Capitalization (M$)
HERO MOTOCORP LIMITED3.91%8 635
BAJAJ AUTO3.48%14 088
YAMAHA MOTOR CO., LTD.-0.43%6 943
HARLEY-DAVIDSON, INC.10.68%6 144
ZHEJIANG CFMOTO POWER CO.,LTD3.68%3 903
TVS MOTOR COMPANY LIMITED5.57%3 242