Hero MotoCorp launches buyback scheme for scooters

TusharK · 7th May 2019, 20:48

Hero MotoCorp has announced a buyback scheme for scooters called BuySurance. The company plans to launch it in the top 10 scooter markets in India. Having launched the scheme in Pune in March 2019, Hero has now introduced BuySurance in Delhi and Bangalore.

Hero MotoCorp launches buyback scheme for scooters-destini.jpg

Under BuySurance, customers buying a Hero scooter will receive a buyback certificate from CREDR with a fixed buyback value in intervals of 6 months for the next 5 years from the date of purchase. To claim the benefits, the customer will have to reach out to a Hero dealership with the scooter and the buyback certificate.

Hero MotoCorp has four scooters in its portfolio. These include the Pleasure, Duet, Maestro Edge and Destini 125. The BuySurance scheme has been launched in response to slowing scooter sales.

Source: Business Standard

Link to Team-BHP News

rahulskumar · 8th May 2019, 11:16

Sounds promising, did anyone get hold of the buyback values ?
Companies should introduce leasing option, it will work well in cities

libranof1987 · 8th May 2019, 11:35

I'm not quite sure how this helps Hero. Activa sells 2 lakh+ units a month; the nearest Hero competitor is Destini 125 at 21k.

If anything, this might get customers to move over to Honda/TVS. Hero would do well in first creating products that are segment leaders.

Sebring · 8th May 2019, 13:32

The Number1 reason Activa sells over clearly superior products from Hero, like Destini, is its resale value. In Bangalore, a used Activa gets lapped up in seconds, while a Hero struggles in that aspect. This step is definitely a cure, but what I found on my various trips to check out the Destini is that the dealer response is scant, and the service aspect is wanting. They should address these aspects first (Not that Activa scores in this regard

)

SS80 · 13th May 2019, 00:45

This offer might sound logical to non-local crowd, especially for some percentage of the IT folks in the city, who might need a scooter just for office commute & local errands. Eventually they might go On-Site or just upgrade to a car. For short term ownership requirement like a year or two, yes this sounds okay.

I don't foresee any drastic jump in Hero sales due to this scheme alone.

7th May 2019, 20:48	#1
TusharK Senior - BHPian Join Date: Jul 2017 Location: Pune Posts: 6,272 Thanked: 55,853 Times	Hero MotoCorp launches buyback scheme for scooters Hero MotoCorp has announced a buyback scheme for scooters called BuySurance. The company plans to launch it in the top 10 scooter markets in India. Having launched the scheme in Pune in March 2019, Hero has now introduced BuySurance in Delhi and Bangalore. Under BuySurance, customers buying a Hero scooter will receive a buyback certificate from CREDR with a fixed buyback value in intervals of 6 months for the next 5 years from the date of purchase. To claim the benefits, the customer will have to reach out to a Hero dealership with the scooter and the buyback certificate. Hero MotoCorp has four scooters in its portfolio. These include the Pleasure, Duet, Maestro Edge and Destini 125. The BuySurance scheme has been launched in response to slowing scooter sales. Source: Business Standard Link to Team-BHP News
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8th May 2019, 11:16	#2
rahulskumar BHPian Join Date: Apr 2016 Location: All Over Posts: 373 Thanked: 686 Times	Re: Hero MotoCorp launches buyback scheme for scooters Sounds promising, did anyone get hold of the buyback values ? Companies should introduce leasing option, it will work well in cities
	() Thanks

8th May 2019, 11:35	#3
libranof1987 Team-BHP Support Join Date: Sep 2010 Location: All over! Posts: 7,618 Thanked: 18,348 Times	Re: Hero MotoCorp launches buyback scheme for scooters I'm not quite sure how this helps Hero. Activa sells 2 lakh+ units a month; the nearest Hero competitor is Destini 125 at 21k. If anything, this might get customers to move over to Honda/TVS. Hero would do well in first creating products that are segment leaders.
	() Thanks

8th May 2019, 13:32	#4
Sebring Senior - BHPian Join Date: Apr 2011 Location: Dubai/Bengaluru Posts: 3,590 Thanked: 11,095 Times	Re: Hero MotoCorp launches buyback scheme for scooters The Number1 reason Activa sells over clearly superior products from Hero, like Destini, is its resale value. In Bangalore, a used Activa gets lapped up in seconds, while a Hero struggles in that aspect. This step is definitely a cure, but what I found on my various trips to check out the Destini is that the dealer response is scant, and the service aspect is wanting. They should address these aspects first (Not that Activa scores in this regard )
	() Thanks

13th May 2019, 00:45	#5
SS80 BHPian Join Date: Apr 2019 Location: Bangalore Posts: 246 Thanked: 930 Times	Re: Hero MotoCorp launches buyback scheme for scooters This offer might sound logical to non-local crowd, especially for some percentage of the IT folks in the city, who might need a scooter just for office commute & local errands. Eventually they might go On-Site or just upgrade to a car. For short term ownership requirement like a year or two, yes this sounds okay. I don't foresee any drastic jump in Hero sales due to this scheme alone. Last edited by GTO : 14th May 2019 at 11:33. Reason: typo
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