Hero sales grow by just 1.6 per cent but still register sales of 5.3 lakh units in March

Sales report for the country’s largest two-wheeler manufacturer is out and it hasn’t been a good month with respect to sales for Hero Moto Corp. Hero managed to sell 5,31,750 units in March, 2015 as opposed to 5,24,028 units that it was able to sell in the corresponding month last year. This means it has registered a sales percentage growth of just 1.45 per cent. The saving grace for Hero MotoCorp is the fact that the company sold record 66,31,826 units of two-wheelers during the financial year (April 1, 2014–March 31, 2015). This is a growth of 6.2 percent with respect to the sales in the preceding year. 

Hero has a slew of launches in both the motorcycle and scooter and will be expecting these new launches to further increase its sales figures as it has been facing stiff competition from Honda in the recent past.  Hero MotoCorp also its first autonomous ‘Production and Development Centre’ at Manesar (Haryana) in association with Italy based Magneti Marelli. With the commencement of operations at the new centre, Hero is set to become India’s first two-wheeler manufacturer to have its own EFI (Electronic Fuel Injection) product-line. In the month of March, Hero also appointed Ashok Bhasin as the Head of Sales, Marketing & Customer Care function for the key India market. 

Pawan Munjal, Vice Chairman, MD & CEO Hero MotoCorp said, “FY’15 was a year of milestones at Hero MotoCorp – in terms of our sales performance, expansion of our global footprint, product innovation and customer engagement. Our record sales performance during the fiscal is reflective of all these efforts. In FY’15, the industry continued to remain sluggish due to the overall market sentiments and the slowing rural economy. Even in such challenging market environment, we managed to buck the trend and registered healthy growth, further consolidating our leadership.”