Hero MotoCorp Ltd. stopped taking bookings for a new Harley-Davidson Inc. motorcycle in India after receiving more than 25,500 orders.
(Bloomberg) — Hero MotoCorp Ltd. stopped taking bookings for a new Harley-Davidson Inc. motorcycle in India after receiving more than 25,500 orders.
Hero said it had seen “overwhelming” demand for the Harley-Davidson X440 in the month since it started taking orders for the model, which it is producing in partnership with the American motorcycle icon.
Over 65% of the 25,597 bookings are for the highest-end X440, which is priced at 269,000 rupees ($3,250), the company said in an exchange filing Tuesday.
Hero will start production of the motorcycle in September and begin deliveries the following month. The strong demand prompted the New Delhi-based company to raise the starting price by nearly 5% earlier this month.
Read More: Harley-Davidson, Hero MotoCorp in Pact for Indian Market
Motorcycle manufacturers are teaming up with Indian companies to lower production costs and churn out cheaper models that appeal to the local market. The UK’s Triumph Motorcycles Ltd. has partnered with Bajaj Auto Ltd. to design and make bikes costing under 200,000 rupees. Harley and Triumph will compete against Eicher Motors Ltd.-owned Royal Enfield.
Harley stopped sales and manufacturing operations in India in 2020.
Hero shares rose as much as 4.6% Tuesday, the most since July 5.
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