Hero MotoCorp has announced that the brand has sold more than 14 lakh units of motorcycles and scooters in retail sales during the festive season. Furthermore, the company also expected to keep the momentum going and continue to gain market share, despite COVID-19 disruptions, strengthening its leadership in the Indian market.
According to Hero MotoCorp, the 32-day festive period which is spread between the first day of Navratra, concluding on the day of Bhai Duj was close to 98% of what the company sold in 2019 and 103% of what Hero MotoCorp managed to sell in 2018. This retail take-off enabled Hero MotoCorp to reduce the dealership inventory to four weeks which is the lowest-ever post-festive stock.
The brand reveals that the retails were strong across all segments and displacements including the Splendor+ and HF Deluxe in the 100cc segment, Glamour and Super Splendor in the 125cc segment and the premium range which includes the Xtreme 160R and the XPulse. Furthermore, the Destini and Pleasure scooters also gained double-digit figures during the festive season. The Hero Glamour BS6 also gained volumes in new markets.
The company also announced that it has not only consolidated its market share in the domestic two-wheeler market since the brand resumed operations post-lockdown but also grown by more than 500 bps in the month of October. Hero MotoCorp credits the entire Hero ecosystem for the robust planning and preparation that led to the revival of the domestic two-wheeler industry over the past several months. The brand throughout the resumption process employed strict protocols and measures to ensure the safety and wellbeing of its customers, staff, stakeholders and dealer partners.
Despite COVID-19 pandemic and the economic tensions in the country, in the October of 2020 Hero MotoCorp registered record sales of 806,848 units of motorcycles and scooters, the highest-ever sales in any single month. For the same month in the previous year, Hero MotoCorp sold 599,248 units showing a growth of 35%.