Two-wheeler maker Hero MotoCorp on November 16 announced that it has recorded its highest-ever festive sales during the 32-day period between the first day of the Navratras and Bhai Dooj this year.
The homegrown auto company clocked more than 14 lakh units in retail sales during the festive period, a 19% growth over the previous year. This was above the previous highest sale of 12.7 lakh units in the corresponding festive period of 2019.
According to the company, the growth was supported by robust demand across rural markets, and steady retail off-take in key urban centers. In the previous year, Hero MotoCorp reported a retail growth of 20 percent, during the 32-day festive period.
“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. With this 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,” said chief business officer Ranjivjit Singh.
Hero MotoCorp also rolled out the second edition of Hero Grand Indian Festival of Trust encompassing new model refreshes, eye-catching color schemes, exciting benefits and attractive finance schemes for customers.
“As part of this mega campaign – with ‘Iss Tyohar, Nayi Raftaar’ as its theme – customers could avail of an exciting range of motorcycles and scooters with attractive finance schemes and low interest rates that enabled the customers to bring home iconic Hero products,” the company said in a release.