Hero MotoCorp on Wednesday said it retailed more than 14 lakh units of motorcycles and scooters during the just concluded festive season. “The good retail off-take during the 32-day festival period was 98% of the festive season volumes sold by the company in the previous year (2019) and 103% compared to the same period in 2018,” Hero MotoCorp said in a statement.
It added that this has also enabled Hero MotoCorp to reduce the vehicle stocks at its dealerships to less than four weeks, the lowest ever post-festive inventory.
The two-wheeler maker said the demand was driven by models across segments, including the 100cc Splendor+ and HF Deluxe, 125cc motorcycles Glamour and Super Splendor and the Xtreme 160R and the XPulse range in the premium segment. The festive season also witnessed strong customer preference for Destini and Pleasure scooters, resulting in high double-digit growth for the two models, it added.
“The news on the rapid development of COVID-19 vaccines is likely to enable a faster rebound of the global economy in the coming months. The positive forecast by the International Monetary Fund (IMF) projecting close to double-digit growth for the Indian economy in FY’22 is likely to boost customer sentiments in general and the two-wheeler sector in particular,” it said, adding that slew of recent measures announced by the government should also help accelerate recovery and aid core sectors to rebound fast.