Hero MotoCorp introduces buyback scheme for scooters - Report
Hero MotoCorp has introduced a unique offer for petrol-powered scooters. The two-wheeler brand has announced a buyback scheme for its products. The company plans to launch the buyback programme in top-10 markets in India.
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Hero MotoCorp had already introduced the scheme, called BuySurance, in Pune, in March to understand the market response. Following Pune, the programme has now rolled into Delhi and Bengaluru. Under the program, buyers will get a guaranteed buyback certificate from CREDR. The document will have a fixed buyback value matrix in an interval of six months over the next five years.
At the end of the term, owners can visit Hero MotoCorp dealerships along with the scooter and the buyback certificate to claim the benefits.
Speaking to PTI, Sanjay Bhan, Head (Sales and After Sales), Hero MotoCorp, said:
Hero MotoCorp has come out with a disruptive value, offering a first of its kind offering in Indian two-wheeler market where customers get guaranteed future re-sale on their new Hero scooter purchase... Over a period of time, our plan is to cover the top-10 markets in the country as part of the pilot project.
Hero MotoCorp currently offers four scooters in the country, namely Destini 125, Duet, Maestro Edge and Pleasure. The line-up will soon extend with the addition of the Maestro Edge 125 that will be launched in India in this month. The launch timeline for the Maestro Edge 125 was confirmed by Niranjan Kumar Gupta, CFO, Hero MotoCorp, and Sanjay Bhan, Head of Sales & After Sales, Hero MotoCorp, last month.
The Maestro Edge 25 will join the Destini 125 in the 125 cc segment to compete with the likes of TVS NTORQ, Honda Grazia and the Suzuki Burgman. While the Destini 125 was introduced as a family scooter, the Maestro Edge will target young buyers. The upcoming 125 cc scooter will feature semi-digital instrument cluster with service due indicator, external fuel-filler cap, dual-tone mirrors, boot light and a USB charging port.
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The mechanical specifications of the Maestro Edge 125 will be identical to those of the Destini 125. It will use Hero MotoCorp’s new 124.6 cc 'Energy Boost' engine that churns out 8.70 bhp at 6,750 rpm and 10.2 Nm of torque at 5,000 rpm. The scooter will benefit from the company's patented i3S (Idle Stop-Start System) fuel-sipping technology for better fuel economy.
[Source: auto.economictimes.indiatimes.com]