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Leading two-wheeler manufacturers Hero MotoCorp and Honda Motorcycle & Scooter India (HMSI) have reported a double-digit decline in sales last month, hit by lower offtake in a sluggish market.
The country’s largest two-wheeler maker Hero MotoCorp reported a 21.18 per cent dip in total sales at 5,35,810 units in July, as compared with 6,79,862 units in the year-ago period.
“The sluggish market environment prevalent in the first quarter has continued in the beginning of the second quarter as well and its impact is visible in the dispatch volumes,” Hero MotoCorp said in a statement.
The outlook for the rest of the year will be dependent on multiple factors, including the progress of monsoon and festive season offtake, as well as improvement in the liquidity situation, it added.
Similarly, HMSI reported 10.77 per cent decline in total sales last month at 4,89,631 units. It had sold 5,48,751 units in July 2018.
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