Hero MotoCorp, the world's largest two-wheeler manufacturer by volume, has reported record retail sales in the festive season and the hi...
Hero MotoCorp, the world's largest two-wheeler manufacturer by volume, has reported record retail sales in the festive season and the highest-ever sales in any single calendar month. In October 2019, Hero MotoCorp reported retail sales of 12.84 lakh two-wheelers, with double digit growth in motorcycles, and massive demand in the 125 cc scooter segment during the festive period. The company reported nearly 50,000 retail sales in its 125 cc scooters during the festive period. In October 2019, Hero MotoCorp despatched 5,99,248 units of its motorcycles and scooters. However, in the last festive season, Hero had managed to despatch more than 6 lakh two-wheelers.
Also Read: Hero MotoCorp Sales Cross 6 Lakh Units In November 2018
"The growth in retail sales during the festive period is in line with our plans. First-time buyers, who have always shown a strong preference for the range of products from Hero MotoCorp, have driven this growth. Specific markets such as Uttar Pradesh and Chhattisgarh - where the retail growth has been more than 15 per cent - have also bolstered our overall retail growth during this festive season. Our motorcycle sales grew in double digits during this period, with a strong performance from our new range of premium motorcycles. The Pleasure+ scooter also generated substantial volumes during this festive season. We are optimistic of carrying forward the momentum in retail sales. Thanks to the record retail off-take, our inventory levels are now down to 30 days and future despatches are being planned in keeping with market demand. The despatch numbers for the month of October reflect our conscious effort at further correcting dealer inventories," said Sanjay Bhan, Head - Sales, Aftersales and Parts, Hero MotoCorp.
Also Read: Hero MotoCorp Sales Down By 20 Per Cent In September 2019
Demand for Hero's premium motorcycle range has been driven by the company's premium range
According to Hero, the retail sales in motorcycles was driven by growth in the premium segment, which includes the 200 cc motorcycle segment, like the Hero Xtreme range, as well as the Hero XPulse 200. During October 2019, Hero's Haridwar manufacturing plant achieved the milestone of surpassing 2.5 crore million units in cumulative production, since the factory was established in 2007. The Haridwar plant manufacturers several bestselling models in Hero's commuter motorcycle range. In the middle of an unprecedented slowdown in the Indian auto industry, Hero MotoCorp has been reeling under pressure, reporting more than 20 per cent negative sales growth over the past two months, but the festive season seems to have pulled Hero up from the slump.
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