Amritsar, NFA Post: India’s largest two-wheeler maker, Hero MotoCorp Ltd, on Sunday reported a 34.77% on-year rise in its domestic wholesales for the month of October to 791,137 units.
A sturdy recovery in sales of entry-level motorcycles in rural and semi-urban markets after Covid-19 induced lockdown measures were eased aided in the overall robust sales figures for the company.
Overall, Hero MotoCorp recorded its highest ever monthly sales of 806,000 units in October.
“A positive turnaround in customer sentiments – particularly for motorcycles across markets, continued government policy support and a credible resumption of supply chain, logistics and business operations have enabled the company to achieve record numbers during the auspicious festive period,” Hero MotoCorp said in a statement.
The company has also increased inventory at dealerships anticipating good retail sales during the Diwali festival.
In October, on a quarter-on-quarter basis, Hero MotoCorp’s dispatches were higher than 697,23 units in the previous month, and 568,674 units in August.
After being shut from late March to adhere to lockdown measures, the two-wheeler manufacturer had restarted operations at its Haryana and Uttarakhand factories from May 5, and had sold 120,000 units in that month.
Dispatches of motorcycles, including exports, rose 32.5% to 732,498 units in October, while that of scooters increased 59.6% to 74,350 units.
The company’s exports recorded a rise of 28.14% to 15,711 units in October.
The Pawan Munjal-led company said that it has increased the price of its vehicles, across the product portfolio, by 2% to offset the increase in commodity cost.