Riding on robust demand across rural markets as well as steady retail off-take in key urban centres, the company registered a 19% growth over the previous year.
16 Nov 2023 | 3397 Views | By Autocar Professional Bureau
Hero MotoCorp, the world’s largest manufacturer of motorcycles and scooters, recorded its highest-ever festive sales, clocking more than 14 lakh (1.4 million) units in retail sales during the 32-day festive period - between the first day of the Navratras and Bhai Dooj – this year.
Riding on robust demand ...
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Hero MotoCorp, the world’s largest manufacturer of motorcycles and scooters, recorded its highest-ever festive sales, clocking more than 14 lakh (1.4 million) units in retail sales during the 32-day festive period - between the first day of the Navratras and Bhai Dooj – this year.
Riding on robust demand across rural markets as well as steady retail off-take in key urban centres, the company registered a 19% growth over the previous year and surpassed its previous highest retail of 12.7 lakh units which was recorded in the festive period of 2019, as per a press release.
Niranjan Gupta, Chief Executive Officer, Hero MotoCorp, said “We are delighted with the festive sales and a big thank you to all our customers who have continued to repose their trust and faith in Brand Hero. Our strong portfolio of brands, scale of distribution, and new launches done this year have helped drive this 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.”
Ranjivjit Singh, Chief Business Officer, India Business Unit, Hero MotoCorp, said, “The record retail number was achieved due to the strong customer traction across markets, with good double-digit growth in the Central, North, South and East Zones. The robust customer demand in the rural markets, in addition to the very positive sentiments in key urban centres, drove these record retail sales. With this robust retail sales, our post-festive channel inventory has now come down 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.”
Hero MotoCorp rolled out the second edition of Hero GIFT - the Grand Indian Festival of Trust – its leading program targeted specifically for the festive period - encompassing new model refreshes, color schemes, benefits, and attractive finance schemes for customers.