Business

Harley opts to ride pillion with Hero

Hero MotoCorp on Tuesday said it had entered into a distribution and licensing agreement with Harley-Davidson Inc. to develop and sell a range of premium motorcycles under the Harley-Davidson brand name in the country.

The move comes almost a month after the U.S. company announced its decision to discontinue sales and manufacturing operations in India as part of a global strategic restructuring plan — The Rewire.

“Hero MotoCorp will sell and service Harley-Davidson motorcycles, and sell parts and accessories and general merchandise riding gear and apparel through a network of” exclusive Harley-Davidson dealers as well as Hero’s existing dealer network, the Indian two-wheeler maker said in a statement.

These actions, Hero said, were aligned with Harley-Davidson’s business overhaul plan.

“This arrangement is mutually beneficial for both companies and riders in India, as it brings together the iconic Harley-Davidson brand with the strong distribution network and customer service of Hero MotoCorp,” it added.

Profit climbs

Separately, Harley-Davidson beat profit expectations on Tuesday as shipments improved from pandemic lows and the company reined in costs as part of CEO Jochen Zeitz’s restructuring plan, Reuters reported.

Net income rose to $120 million, or 78 cents per share, in the third quarter ended September 30, from $87 million, or 55 cents per share, a year earlier.

(With inputs by Reuters)

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Printable version | Dec 4, 2020 11:39:22 PM | https://www.thehindu.com/business/harley-opts-to-ride-pillion-with-hero/article32957649.ece

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