Hero MotoCorp sales dip 18% in October, Auto News, ET Auto


Our motorcycle sales grew in double digits during this period: Bhan
Our motorcycle sales grew in double digits during this period: Bhan

New Delhi: Two-wheeler market leader Hero MotoCorp on Friday reported 18.43 per cent decline in total sales at 5,99,248 units in October 2019.

The company had sold 7,34,668 units in the same month last year, it said in a statement.

According to Hero, 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,” he added.





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