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The country’s largest two-wheeler manufacturer Hero MotoCorp has sold more than one million motorcycles and scooters during the ongoing festival season.
With close to three weeks still remaining in the festival season, the company expects to sell record numbers this season and a double digit growth over the previous year, a senior company official told BusinessLine .
“As expected, there has been robust demand for our range of two-wheelers in the market. The customer response has been so massive that we have already crossed a million units in retail sales in the ongoing festival season, with a double digit growth over the previous year,” the official said on condition of anonymity.
Hero MotoCorp had earlier reported robust sales during Onam and Ganesh Chaturthi with double digit growth over the previous year.
“This has been possible due to our product and region-specific strategy, integrated with the customer activation initiatives for the upcoming FIFA U-17 World Cup. Under this strategy, we have rolled out innovative customer engagement programmes and communication initiatives and reached out to our targeted customer groups through various platforms,” he said.
The one-million retail sales for Hero MotoCorp has come close on the heels of the company surpassing 75 million units in cumulative sales since its inception, the official added.
Refusing to give the exact numbers for September, the official said the monthly numbers will come on Tuesday, which is expected to be its highest-ever sales for any month. Apart from Hero, other majors including Honda Motorcycle & Scooter India, and TVS Motor Company are declaring September numbers on Tuesday.
The current fiscal has begun on a positive note for Hero MotoCorp. The company clocked its best-ever despatch sales in the April-June period with 18.53 lakh and then registered its highest-ever sales in any single month in August with 6.78 lakhs units – the fourth consecutive month of over six lakh despatch sales for the company.
According to experts tracking the sector, the two-wheeler companies are expected to report healthy numbers, backed by festival offers, lower interest rates on loans and clarity on GST rates.
Passenger car companies on Sunday also reported healthier growth due to the same reasons.
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