 "Hero MotoCorp posts its best festive season with sale of 1.4 mn 2-wheelers")
Hero MotoCorp, on Thursday, announced that it recorded its highest-ever festive sales by selling over 1.4 million two-wheeler units in the 32-day period this year. The country's largest two-wheeler maker achieved the sales mark between the first day of the Navratras and Bhai Dooj on November 15.
Riding on robust demand across rural markets and steady retail off-take in key urban centres, the company registered a 19 per cent growth over the previous year and surpassed its previous highest retail of 1.27 million units recorded in the festive period of 2019.
"Our strong portfolio of brands, scale of distribution and new launches done this year have helped in driving this growth across geographies," said Niranjan Gupta, chief executive officer at Hero MotoCorp.
Gupta added that the festive season is a "clear testimony" that rural areas are returning to growth, which bodes well for the country in general and the two-wheeler industry in particular.
Ranjivjit Singh, chief business officer (India) at Hero MotoCorp, added that the record retail number was achieved due to the strong customer traction across markets, with good double-digit growth in the Central, North, South and East zones.
"The robust customer demand in the rural markets, in addition to the very positive sentiments in key urban centres, drove this record retail sales," he added.
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"With these robust retail sales, our post-festive channel inventory has now come down to its lowest level in more than three years. This has set us on a steady growth path for the rest of the fiscal year," Singh noted.
Hero MotoCorp rolled out the second edition of Hero GIFT, its leading program targeted specifically for the festive period during the season. Customers will be given the facility to avail of finance schemes at low-interest rates along with new models.