Whalesbook
Toh scene kya hai? Honda Motorcycle and Scooter India (HMSI) ne January se April 2026 tak 2.26 million units produce karke Hero MotoCorp ke 2.18 million units ko cross kar diya. Matlab, production volume ke hisaab se toh Honda abhi chhaya hua hai, ek aisi position jo Hero ke paas kaafi time se thi. Hero ka domestic market share FY26 mein 27.94% tha, jabki Honda ka FY26 mein 26.5% raha. Honda ka export bhi badha hai, jo ab total production ka 13% hai, jo Hero ke sirf 6% se kaafi zyada hai.
Par yahan ek bada twist hai, bhai! Honda ka parent company, Honda Motor Co., Ltd., pichle 70 saalon mein pehli baar annual loss report kiya hai. Global market mein unkaafi pressure mein hai. Stock price bhi around ¥1,333.5 chal raha hai aur market cap ¥6.09 trillion hai. Dusri taraf, Hero MotoCorp financially stable dikh raha hai. Unki market cap ₹99,171 crore (lagbhag $11.9 billion USD) hai aur P/E ratio bhi 17-18.5 ke beech mein maintain hai, matlab investors ko unke earnings predictable lagte hain.
EV Race ki baat karein toh Hero MotoCorp ne toh dhamaka kar diya hai. Woh India mein EV manufacturers mein No. 4 position par aa gaye hain. Magar Honda ne toh top 10 mein bhi jagah nahi banayi, unhone toh bas 1,300 se kam EV bikes bechi hain pehle 4 mahine mein! TVS Motor Company toh scooter segment mein 40% tak jaana chahti hai, aur Bajaj Auto bhi apne Chetak EV ko badha raha hai. Toh EV mein Hero ki position kafi strong hai future ke liye.
Indian auto market mein 6-8% growth expected hai 2026 mein, aur premium segment bhi badh raha hai. Hero ka focus commuter segment par hai, jahan woh strong hain, aur ab EV mein bhi entry maari hai. Honda ki strength Activa jaisi scooters mein hai, lekin unka scooter market share bhi 52% (FY21) se ghata hai aur ab 40% se niche aa gaya hai.
Honda ka production mein aage hona shayad temporary ho, unke global issues aur EV mein piche rehna unke liye bada risk hai. Parent company ne toh EVs se thoda focus hata bhi liya hai. Iska seedha asar HMSI par padega, jisse unka EV game kamzor pad sakta hai. Hero MotoCorp ko analysts bhi support kar rahe hain, unka consensus target price around ₹5,900 hai, matlab 18% tak ka upside mil sakta hai. FY2027 mein domestic 2-wheeler market mein 3-5% growth hogi, lekin EV aur premium segment hi asli growth engines honge. Toh ladai ab sirf production volume ki nahi, future tech aur EV ki hai.