Hero MotoCorp pins hopes on festive season to clear inventory levels

Roudra Bhattacharya Updated - September 05, 2012 at 03:32 PM.

Heavy Industries & Public Enterprises Minister, Praful Patel (left), with Pawan Munjal, Managing Director and CEO, Hero MotoCorp, during the Automotive Component Manufacturers Association convention in the Capital on Wednesday. Photo: Kamal Narang

Hero MotoCorp said on Wednesday that the inventory levels are running high with dealers with demand being slow, but it expects strong festive season demand to clear it.

Pawan Munjal, MD & CEO said: “Retail sales in August and July have been very slow. From the month of October, we will see a push and hope some recovery in the market.’’

“It is difficult to predict growth for the entire fiscal, we would like to see the festive season and then take a call on overall growth,’’ he said.

Munjal said that the inventory levels with dealers are high but that is positive for the company. “I am glad to have pushed sufficient stock, which will be helpful ahead of the festive season,’’ he said.

In August, Hero's sales had dropped 12% to 443,801 units.

Published on September 5, 2012 07:39