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The country’s largest two-wheeler manufacturer Hero MotoCorp Ltd on Wednesday said it sold 5.41 lakh units in June against 5.02 lakh units in June 2013, registering a growth of 8 per cent.
The company sold 17.15 lakh two-wheelers in Q1 (April-June) of this fiscal, compared with 15.59 lakh in the corresponding quarter of FY-14, clocking 10 per cent growth.
Since the beginning of this fiscal, the company said it had sustained healthy volume sales, despite the overall sluggish industry environment.
“The recent extension of the current excise duty rate is expected to act as an impetus for the auto sector and hopefully, it will lift the industry sentiment,” it said.
However, a sub-normal monsoon is likely to dampen demand both in rural and urban markets. The need of the hour, therefore, is a long-term, consistent and uniform excise policy for the benefit of customers and sustainable revival of the industry, the company said.
In June, Hero MotoCorp commenced production at its fourth manufacturing plant at Neemrana in Rajasthan and has also begun dispatching to the market from the plant. With the commissioning of the plant which has an installed capacity of 750,000 units, HMCL now has a total annual installed capacity of 7.65 million units of two-wheelers.
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