The country's largest two-wheeler maker Hero MotoCorp is going all out to cash in on the festive season and has tied up with HDFC Bank to offer financing at 6.99% across its entire range of products.
The company claimed it has retailed over 1.5 lakh two-wheelers during the Navratras till Sunday evening, as it seeks to meet a target despatching half a million two-wheelers during this month.
"For the benefit of our customers during the festive season, we have just launched a programme with HDFC Bank to offer very attractive easy financing at just 6.99% on our entire range of models," Hero MotoCorp, Senior Vice -President (Marketing & Sales) Anil Dua said.
As per industry estimates, the existing interest rate on two-wheeler finance is around 10%.
Commenting on the festive season sales, he said the first week of the festive season has been encouraging and the company has retailed over 1.5 lakh two-wheelers during the Navratras till Sunday evening.
"We are hopeful of further adding to this tally by Dussehra on Wednesday," Dua added
The company has set a target of despatching over half a million two-wheelers in October including more than 1.5 lakh Splendor bikes to meet the market demand in the weeks leading up to Diwali in November.
The company is banking on the festive season to boost sagging sales. Last month it had reported sales of 4,04,787 units, down of 26.35% from 5,49,625 units the same month last year.