SILICON VILLAGE

Saturday, November 3, 2018

Hero Motocorp Drives Industry Growth with 2nd Successive Month of More than 7-Lakh Sales

Hero MotoCorp, the world’s largest two-wheeler manufacturer, today reported yet another month of landmark 7-lakh sales.

Hero MotoCorp despatched 734,668 units of motorcycles and scooters in October 2018 – a growth of 16.4% over the corresponding month of the previous fiscal (October 2017) when the Company had sold 631,105 units.

Fortifying its market leadership with a strong sales growth trajectory, this is the fourth occasion in this fiscal (FY’19), and sixth overall, when the Company has registered sales of more than seven lakh units of two-wheelers in a month.

Coming immediately after the Company’s highest-ever monthly sales (769,138 in September 2018), the growth provides a positive outlook on the industry, which has witnessed a sub-par festive season sales thus far this year.

Compared to the previous year, retail off-take across the country during the initial few weeks of the festive season have been moderate, primarily on account of the significant increase in Insurance cost, followed by the associated confusion over the coverage amount and period in the matter of two-wheeler insurance. We hope to see a positive turnaround in the sentiments and retail sales to pick up in the days leading up to Diwali.

Hero MotoCorp also marked its entry into the 125cc scooter segment during the month, with the launch of its new 125cc scooter – Destini 125 – in the Delhi-NCR region. Attractively priced at Rs. 54,650/- (Ex-Showroom Delhi-NCR) for the Lx variant and Rs. 57,500/- (Ex-Showroom Delhi-NCR) for the Vx variant, the scooter will be available in the rest of country over the next 3-4 weeks.

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