Hero MotoCorp, the world’s largest two-wheeler manufacturer, today reported record retail sales in the just concluded festive period – starting from Navratra till after Diwali.
The Company’s highest-ever retail sales during the festive period was driven by a double-digit growth in motorcycles, riding on growth in the sales of its newly-launched premium range.
Sanjay Bhan, Head – Sales, Aftersales and Parts, Hero MotoCorp said,
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% – 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.
In October 2019 the Company despatched 599,248 units of motorcycles and scooters.
During the month, the Company’s Haridwar manufacturing plant achieved the significant milestone of surpassing 25 million units in cumulative production. Setting new benchmarks in manufacturing excellence, the production of 25 million vehicles has been achieved in a short period of just over 11 years.
Hero MotoSports Team Rally, the motorsport team of Hero MotoCorp, successfully completed the 2019 Rally Du Maroc with a top 15 finish. All three of its riders finished the race, achieving yet another 100% arrival at an international rally for the Team.
Hero MotoCorp also announced the fifth edition of the popular The Hero Campus Challenge (THCC) in October. As one of India’s most innovative platforms that channelizes the creativity and business acumen of the country’s youth, THCC challenges participants with a series of real-life global industry scenarios and students are required to deliver innovative and practical solutions for the issues.
Highlights
- Highest-ever retail sales in any single calendar month – 12.84 lakhs in October 2019
- Record retail sales in the festive period with double-digit growth in motorcycles, driven by growth in the premium segment
- Nearly 50,000 retail sales in 125cc scooter segment during the festive period
- Lowest dealer inventory of 30 days in the past 24 months (2 years, since Oct’17)
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