Two-wheeler major Hero MotoCorp has recorded its highest-ever monthly sales in October at over 8 lakh units of motorcycles and scooters being sold, the company said in a statement on Sunday. In total, it sold 8,06,848 units last month, 35% higher than 5,99,248 units sold in October last year.
"A positive turnaround in customer sentiments, particularly for motorcycles across markets, continued government policy support and a credible resumption of supply chain, logistics and business operations have enabled the company to achieve record numbers during the auspicious festive period," the company said in a statement.
The company sold 7.32 lakh motorcycles in October, compared to 5.5 lakh in October last year. Meanwhile, it sold 74,350 scooters, up from 46,576 last year. In total, Hero said that the company has so far sold 29,39,553 (29.39 lakh) motorcycles in total (year-to-date) and 2,45,246 scooters since inception.
Under motorcycles, Hero sells Glamour, Passion, Splendor, Xtreme, among others, while under scooters, it has brands such as Pleasure, Destini, and Maestro.
With the higher dispatches during the month, Hero said that customer touch points across the country now have adequate inventories in line with market demand in the ongoing festival period.
The company also said that registered significant gains in market share in the second quarter (July-September) across product categories and geographies and expects to further build on this momentum going ahead.
Interestingly, these record numbers come days after Bajaj Auto MD Rajiv Bajaj told CNBC TV18 in an interview that sales had been disappointing during the Navaratri festival, especially in the entry level segment, which is 100cc bikes. He has said that for Bajaj, domestic motorcycle sales were down 3%.
The Federation of Auto Dealers Association (FADA) is estimating a double-digit decline in two-wheeler sales on a year-on-year basis, the Financial Express reported. Data from the Society of Indian Automobile Manufacturers (SIAM) further showed that two-wheeler sales had remained nearly flat at 0.17%, while passenger vehicle sales grew 17% in September.