Buoyed by good festive season sales last month, the country's largest two-wheeler maker Hero MotoCorp is looking to better its last year's mark of selling over one million units in just two months of October and November.
New Delhi: Buoyed by good festive season sales last month, the country's largest two-wheeler maker Hero MotoCorp is looking to better its last year's mark of selling over one million units in just two months of October and November.
The company, which retailed over 1.1 lakh two-wheelers on the day of Dhanteras this year, is banking on its new refreshed versions of existing models and traction from rural market to push sales.
"We have had record numbers in October selling over 6.25 lakh units, the first time that a two-wheeler company has crossed the 6 lakh mark in a month. With festivities continuing in November, we expect the momentum to continue," Hero MotoCorp Senior Vice President (Marketing and Sales) Anil Dua told.
When asked about sales growth expectations in the festive season, he said: "Last year we had a combined sales of over a million units in October and November. This year we are expecting to increase handsomely over that number."
Hero MotoCorp had sold a total of 10,31,520 units in October-November period last year.
This year, in October, the company reported 18.17 percent rise in total sales at 6,25,420 units.
Commenting on the growth drivers, Dua said: "The refreshed versions of our existing models have been doing well. Also, we are shortly introducing new ones such as Splendor iSmart that's equipped with stop-start technology and Pleasure (scooter) with integrated braking system in the market. These should further boost our sales."
On the market break up, he said: "The rural market has seen a lot of traction due to good monsoon and cash availability. It is out pacing the urban market by growing at about 9-10 percent compared to about 5 percent for the latter."
He further said the market share for company in rural market has increased to 48 percent from 47 percent last year.
When asked about the overall growth prospects for the fiscal, Dua sounded optimistic and said: "In the year-to-date period, till September we were flat but by end of October we have a growth of 3 percent."