In A First, Hero MotoCorp Launches Buyback Scheme For Scooters With Resale Price Protection For Five years

Taking a leaf out of tech companies’ book, India-based motorcycle giant Hero has launched a new buyback scheme that will offer customers resale price protection for five years on scooters, reports Business Standard (BS).

The scheme is aimed at reviving sluggish scooter sales at the world’s largest motorcycle marker. According to Sanjay Bhan, head, sales and after sales at Hero MotoCorp the scheme called BuySurance, is the first of its kind in the two-wheeler market.

“We are late entrants in scooters. Others have been ahead of us. Not only do we have to catch up, we have to take a leap forward. This is something that will give us results,” stated Bhan.

Hero has launched this buyback scheme in partnership with the online marketplace brand for pre-owned two-wheelers CredR. New customers of Hero scooters will receive a guaranteed buyback certificate from CredR along with a fixed buyback value matrix every six months over the next five years.

To claim the benefit, customers will have to contact Hero dealerships.

“The customer is actually spending Rs 20,000 over three years. That’s about Rs 6,666 a year, Rs 555 a month, Rs 18.50 a day. It will be even cheaper than the autorickshaw ride for which one pays Rs 14 for the first kilometre in Delhi,” explained Bhan.