Hero MotoCorp achieved a new milestone of 12.84 lakh retail sales in October 2019 and it was the biggest ever in its history
Hero MotoCorp has released a statement revealing its monthly sales numbers for October 2019. It turns out, last month, the largest two-wheeler manufacturer in the country, achieved a new milestone by setting its highest ever retail volumes in a single month. The retail sales were reported at 12.84 lakh and it was mainly attributed to the high demand for motorcycles and scooters during the festive season. However, the dispatch is dropped by 16.3% from 7.16 Lakh units to 5.99 Lakh units.
The homegrown brand says the 125 cc scooter space has played an integral part in garnering volumes. Hero managed 50,000 retail sales of its 125 cc scooters. Sanjay Bhan, Head – Sales, Aftersales and Parts at Hero MotoCorp said that the growth in retail sales during this festive season is in line with the company’s plans.
He explained that first-time buyers have played a major role in driving the growth and markets like Uttar Pradesh and Chhattisgarh exceeded 15 per cent retail growth during the auspicious festive period. The motorcycle sales have increased in double digits during this period according to him. He mentioned the Pleasure Plus scooter has generated substantial volumes sales.
Hero is optimistic of taking this momentum forward and the record retail sales has reduced the inventory levels to one month. In line with the demand, the brand is also planning for further dispatches. The emphasis was put on the 200 cc motorcycles for driving growth as well – the Xpulse and Xtreme series. Last month, Hero MotoCorp’s plant in Haridwar reached a milestone of rolling out 2.5 crore units cumulatively since 2007.
The production facility is responsible for the manufacturing of Hero’s popular commuter range. The festive season has certainly aided the two-wheeler industry to pull back some much-needed volumes across the board and the importance of the lucrative discounts and benefits should not be undermined either.
The biggest question now lies in whether the industry can keep up the momentum and rise back up or not as 2019 has been seen one of the worst sales slowdowns ever in history.