Hero MotoCorp sales for October 2016 stood at 663,153 units against 639,802 units. This translated into a growth of 3.6%. Company has attributed this to a sustained customer demand. October was the third consecutive month of over 6 lakh unit sales. During the same period last year, the company posted 11.25% growth.
Giving more muscle to its EV (Electric Vehicle) business, Hero MotoCorp agreed to invest in Bangalore based Electric Two Wheeler startup Ather Energy.
Hero MotoCorp reported its best-ever financial performance. It reported its Highest-ever quarterly sales growth and Highest-ever half-yearly sales growth of 10.8% over corresponding period last year.
The growth was aided by softer commodities and cost control measures, margins improved to 16.20% – highest-ever. Pawan Munjal, Chairman, Managing Director & Chief Executive Officer, Hero MotoCorp, said:
The second quarter of this fiscal has been a defining phase in the journey of our young brand. The domestic market has seen a revival in the past two quarters due to an above- average monsoon and positive consumer sentiment. The trend is expected to continue through the year and likely to result in double-digit growth for the industry. In the global markets, however, the industry continues to face headwinds due to volatile business environment driven by continued weakness in crude prices and sharp depreciation of local currencies.
Hero’s expects to gain a little more market share in the premium or the 150cc segment with the launch of Achiever 150 and the company hopes to launch a couple more products in this segment.
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