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The country’s largest manufacturer of motorcycles and scooters, Hero MotoCorp on Thursday said it recorded its highest-ever festive sales, clocking more than 14 lakh units in retail sales during the 32-day festive period, between the first day of the Navratras and Bhai Dooj.
Riding on robust demand across rural markets as well as steady retail off-take in key urban centres, the company has registered 19 per cent growth over the previous year, and surpassed its previous highest retail of 12.7 lakh units recorded in the 2019 festive period, the company said in the statement.
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“Our strong portfolio of brands, distribution scale and new launches have helped drive growth across geographies. The festive season is a clear testimony that rural is coming back to growth, which augurs well for the country, in general, and the two-wheeler industry in particular,” said Niranjan Gupta, Chief Executive Officer, Hero MotoCorp.
Adding cheer to the festive season, Hero MotoCorp rolled out the second edition of Hero GIFT - the Grand Indian Festival of Trust – its leading programme targeted specifically for the festive period - encompassing new model refreshes, eye-catching colour schemes, exciting benefits and attractive finance schemes for customers.
As part of the mega campaign - with Iss Tyohar, Nayi Raftaar as its theme – customers can avail of a range of motorcycles and scooters, with attractive finance schemes and low interest rates that have enabled customers to bring home Hero products, the company said.
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“The record retail number was achieved due to strong customer traction across markets, with double-digit growth in the Central, North, South and East zones. Robust customer demand in the rural markets, in addition to positive sentiment in key urban centres, drove the record retail sales. With this, our post-festive channel inventory has dropped to its lowest level in more than three years. This has set us on a steady growth path for the rest of the fiscal year,” Ranjivjit Singh, Chief Business Officer, India Business Unit, Hero MotoCorp, said.
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