In a continuation of its record sales performance this festive season, Hero MotoCorp has announced retail sales of 1.1 lakh bikes and scooters in a single day on Dhanteras. This comes a day after the two-wheeler market leader reported an 18% jump in wholesale volumes in October to a new monthly high of 6.25 lakh units that beat its previous record of 5.57 lakh units in May this year.
“We retailed over 1.1 lakh units of two-wheelers on Dhanteras, which is higher than our previous year's sales. We hope to build further on this momentum as we get into our new launches going forward,” a company spokesperson said.
Hero, which ended a joint venture with Japanese partner Honda in 2011, now plans to launch 15 self-developed upgrades for its key models like the Splendor and Passion bikes by February next year. The move is a bid to create excitement in the market that has been depressed for the bulk of this year– necessitating production cuts at its three plants in June-July.
However, strong demand in the festive season has led the firm to increase production in October to maximum levels of about 24,000 units a day.
It's not only Hero, but all two-wheeler makers have done well in October, led by booming rural markets which have gained from good monsoons.