Hero MotoCorp records highest-ever festive sales, sells 14 lakh units in 32 days

Hero MotoCorp on Thursday said it has reported its highest-ever festive sales this year, where it sold more than 14 lakh units in retail sales during the 32-day festive period from the first day of Navratras (October 15) to Bhai Dooj (November 15). In a regulatory filing, the company said it recorded a 19 per cent growth for the company over the last year. Its last highest retail sales were recorded in 2019 festive season, before the Covid period, where it sold 12.7 lakh units.

The bikemaker said sales were attributed to strong demand in rural markets and consistent retail uptake in key urban centers.

“We are delighted with the festive sales; and a big thank you to all our customers who have continued to repose their trust and faith in Brand Hero. Our strong portfolio of brands, scale of distribution and new launches done this year have helped in driving this growth across geographies. The festive season is a clear testimony that rural is coming back to growth, which augurs well for the country in general and the two-wheeler industry in particular,” said Niranjan Gupta, Hero MotoCorp CEO.

Adding cheer to the festive season, Hero MotoCorp rolled out the second edition of Hero GIFT - the Grand Indian Festival of Trust – its leading programme targeted specifically for the festive period - encompassing new model refreshes, eye-catching colour schemes, exciting benefits and attractive finance schemes for customers.

As part of the mega campaign - with 'Iss Tyohar, Nayi Raftaar' as its theme – customers can avail of a range of motorcycles and scooters, with attractive finance schemes and low interest rates that have enabled customers to bring home Hero products, the company said.

Before the festive season started, Hero MotoCorp said they are expecting a bumper year and demand momentum for two-wheelers to build up further in the domestic market with economic indicators remaining positive. The country's largest two-wheeler maker said it revamped its sales infrastructure.

"As far as the economy is concerned, we know about the global geopolitical issues that are going on, however, the Indian economy continues to be resilient and is one of the fastest growing major economies in the world," Hero MotoCorp CEO Niranjan Gupta said in an analyst call. All the indicators are in the positive direction amid a strong consumer confidence index, he added.

"While the monsoon has been patchy in parts, if you see the Rabi crops have been pretty good as compared to the last year. The festive season has started off very well and overall we do see momentum building on the demand side as we move forward," Gupta said.

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