Hero MotoCorp's recently launched premium motorcycles HD X440 and Karizma XMR have been well received by customers, said broker JM Financial after speaking with bike dealers.
"Initial dealer feedback on HD X440 and Karizma XMR is quite positive. The company has been spot-on with regard to product styling and pricing, based on dealer feedback. Our channel checks suggest continued customer excitement for HD X440 and a further step-up with the launch of Karizma XMR," said the broker in a note on Thursday.
Both these launches address the key void in HMCL's premium product portfolio, the analysis said, referring to Hero's portfolio that is heavily tilted towards the commuter and mass markets segments.
The survey also finds that the recently launched 'Passion+', priced at Rs 76065, has also been received well.
"Customers prefer Passion owing to lower maintenance cost, easy spares availability, better build quality, seat height and new-age features," the broker quoted HMCL dealers as saying.
The broker sounded bullish on the company's stock, pointing out that the recent launches are driving higher customer footfalls and are expected to have a positive rub-off on the existing and refreshed models.
As per the report, HMCL is strengthening its market position and is making a strong comeback as an all-round two-wheeler player. HMCL has emerged as the top player after TVS.
Hero Karizma XMR is a very well-styled bike with 40kmpl mileage and loaded with features at satisfactory pricing, according to the dealers. It is expected to give strong competition to peers like Yamaha, Suzuki and Bajaj, according to HMCL dealers.