The automaker noted that sales in August were marginally impacted by supply shortages, which will be made up in September.
02 Sep 2024 | 2074 Views | By Autocar Professional Bureau
Hero MotoCorp reported a 4.8% year-on-year growth in its total sales during August, on the back of an uptick in dispatches to domestic and international markets. Two-wheeler makers are ramping up their supplies to the market, anticipating strong demand in the upcoming festival season.
The New Delhi-based automaker’s total ...
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Hero MotoCorp reported a 4.8% year-on-year growth in its total sales during August, on the back of an uptick in dispatches to domestic and international markets. Two-wheeler makers are ramping up their supplies to the market, anticipating strong demand in the upcoming festival season.
The New Delhi-based automaker’s total wholesales, dispatches from a factory to a dealership, in August came in at 5.12 lakh units, against 4.89 lakh units in the year-ago quarter. Dispatches to the domestic market rose 4% to 4.93 lakh units while exports increased 27% to 20,097 units.
“Hero MotoCorp is geared to ramp up for the upcoming festive season, where it expects healthy growth,” the automaker said, adding that the month’s sales were marginally impacted by supply shortages, which will be made up in September.
Festival season in India generally starts with Ganesh Chaturthi or Onam in Kerala towards the August end or September beginning and extends till Bhai Dooj after Diwali in November across the majority of the states.
This period is of great significance as consumer spending is high this time due to cultural significance. The volumes generated in this period account for a significant part of their annual sales.
“With faster recovery expected in the rural segment, growth in the 125cc segment, new launches in scooters and strong investment behind power brands, the company expects to grow ahead of the industry,” Hero MotoCorp said.
For the April to August period, Hero MotoCorp’s total wholesales came in at 24.18 lakh units, up 8% on year. Domestic market dispatches grew 7.5% to 23.24 lakh units while exports rose around 32% to 93,830 units.
Read more: India 2W sales to grow over 12.5% YoY in festival season: TVS’ Radhakrishnan