Hero MotoCorp reports marginal sales growth in May 2013

Tuesday 04 June 2013, 11:49 AM by

Hero MotoCorp Limited, the country's largest manufacturer of two-wheelers, has revealed in a statement that it recorded marginal increase in its total sales last month. As per the official statement released by the company on June 3, 2013, Hero MotoCorp managed to sell 5,57,890 units in May 2013, as compared to sales of 5,56,644 units registered in the corresponding month last year.

Expressing his opinion on the marginal growth recorded by the company, Anil Dua, Senior Vice President (VP), Marketing and Sales at Hero MotoCorp Limited was quoted as saying, “The demand momentum that we had seen on our product range in April continued in May as well, helping us achieve over 1.1 million retail sales in the two-month period.” He further added, “This retail off-take has been helped by our star brands, our new product range as also the recently-introduced five-year warranty on our entire portfolio.”

Hero MotoCorp Limited has also forayed into the motor vehicle finance sector and has introduced its own retail finance subsidiary, called Hero FinCorp in New Delhi. By March 2015, Hero FinCorp would have presence in over 450 dealerships across the country. The company is also expanding its footprints in the international auto markets and entered several Central American countries last month. Hero MotoCorp introduced its two-wheeler range in Guatemala, Honduras and El Salvador in May 2013.

Dua has affirmed that the company is expecting the buying sentiments among domestic consumers to be good. This would help Hero MotoCorp in maintaining and even improving its sales figures in the Indian two-wheeler market. Speaking on the same, the Hero MotoCorp Senior VP quoted, “Going forward, with forecast of a normal monsoon, we expect sentiments to be good, thus helping us sustain the current momentum.”

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